Oh boy, here we go:

I know it means "male whore" in a literal sense, but language is constructed after its usage, having variants according the tone or even the place you use the word.

This are some meanings:
1. Puto: Male prostitute
2. Puto: Homosexual
3. Puto: Coward
4. Puto: It's used to emphasize a word (in the same way as fucking) E.g. The fucking californian sun; El puto sol californiano.
5. Puto: The one who reads this (Sorry, couldn't help myself)
6. Puto: Womanizer

I chose "faggot" for the translation since I saw a similar flexibility in the word usage.

Anyways, it's hard to have a consensus over this when México is still debating over if a quesadilla should have cheese to be called a quesadilla. (IT SHOULD)

That smug dog is:
"Like, if you could stop me anyways"