Honestly, I do think that Political Correctness can be... rather annoying at times. It's one thing to be polite, but another thing to feel like you're walking on egg shells and everything you say could be offensive. Also, the phrase itself kind of grates on me as well. If you want to be polite and prevent offending people, why not just... do that and not have a special phrase for it? It makes the whole thing seem more pretentious than it needs to be. Perhaps because of the usage "correctness," making it seem like it's the ONLY right thing that exists and nobody should disagree with it. That could just be me though.
In general, I just don't like big attention being drawn to things that I think should be done without being said. The more attention is drawn to them, the more sensational and extremist they become, attracting the wrong kind of people who ironically become just as offensive and authoritarian as what they're trying to prevent. (Political Correctness extremists is what I'm referring to in general.) Though I am also aware that this isn't common sense to everyone, but people like that will probably always be rude.
I do think that people should be able to say what they want, regardless of whether it is offensive or not. But also, as someone else has said before me, there will be consequences to what they've said depending on who they've said it to. It really isn't about Political Correctness to me. It's just about who you're talking to. Some people, they're more laid back and they don't care if you use offensive words as a joke. It's just all fun and games. Others, you should be more careful around because they'll either be genuinely upset or get angry at you. It's about observing and considering who you're surrounded with, not about some government wide policing or whatever the intention is. To me, it needn't be so complicated. But then again, this is humanity we're dealing with. A species that tends to overcomplicate things due to the variety of opposing viewpoints.
Further, I find the concept of censoring words to just be... kind of nonsensical. Because I believe it really isn't about the word itself - but the intention behind it. And you can't censor intentions no matter how you try. The hateful will just find other words to start pooling their negative intent behind. For example, the phrase "fuck you" can be said in so many different ways. Joking or angrily. This is also how formerly offensive words stop being offensive - peoples' intentions behind them change over time. Tone is also an important consideration that I find gets neglected behind the technicalities of words.
Eventually though, I do think that humanity will start to mellow out about this. And it won't matter what your race, sexuality, etc is. The perceived need for Political Correctness will fade away. Right now, we're just in this awkward stage after countless years of unneeded racism and general discrimination over our past, those who had been discriminated against are lashing back. Not always rightfully so, creating extremism just as bad as it was before. What I'm for above all is balance. The correct balance between being excessively censored and just being a blunt dick who cares nothing for others' feelings. It's a difficult situation, and even if I wish it were less convoluted, the truth is that there isn't a simple answer to this.