ALBANY, N.Y. (AP) — A court says it's no longer slander in New York to falsely call someone gay. A mid-level appeals court on Thursday wiped out decades of rulings, including its own, to say that society no longer treats false comments that someone is gay, lesbian or bisexual as defamation. Without defamation, there is no longer slander, the court ruled. http://www.nytimes.com/aponline/2012/05/31/us/ap-us-court-gay-slander.html?_r=2&hp
A new generation doesn't consider it fighting words to be called gay. I suggest you not yell it at an older guy though.