I am very much one that comes from this school, thanks to george carlin's skit about racism.
"there is nothing wrong with these words, they are only words. You have to be worried about the racist motherfugger that uses these... These words are only racist in context. You don't get pissed off when Richard Pryor says "ni***r", because he is (one). It is within context." -George carlin
If I am talking to one of my black residents on my floor (I'm a resident ASSistant), I am not going to say the n-word, but if he says it, I'm not going to get offended. kinda like any of my buds wouldn't get offended by me calling myself a cracker.