Think through the usage of a few other slurs. I think you'll find many of them are used both as a slur /and/ to describe some negative stereotype of the targeted group as it arises anywhere else. The 'generality' is just reinforcement of the stereotype, and doesn't make the slur acceptable.

Finally, the 'r-word' has been on the outs for /decades/ now. I tend to associate it with clueless teenagers - the same ones typically spewing lots of homophobic slurs - and anyone I hear using it will typically get a BIG discount in my perception.