I've been pushing this for quite some time now. Way I see it:
--We're all big boys and girls. We know the words, censoring them isn't going to spare us from having our minds twisted and warped because we see the F word. If there is anybody here who legitimately does not know what I'm talking about when I say "The F Word," then you can invalidate this point.
--The games around which this site is mainly centered are mostly M-rated games. At the very least, they have mature themes and are primarily played by older individuals. I wouldn't say the players are particularly mature themselves, but the fact remains that the world isn't going to break down into anarchy if we're allowed to say ****. We can handle it.
--Censorship and prohibition never works. All it does is make people more determined to do whatever's being prohibited. In the case of swearing, it just leads to spammy-looking filter evasions cluttering up otherwise decent posts and making our site look like ****. Cleaning it up makes more work for our mods, whereas "legalizing" it has no real adverse effects.