I am not a raging homophobe, just a stressed out Spuffy.
I am not offended by slash, I have in fact read the odd bit (but with a dash of squirm).
I am not bothered one bit by graphic descriptions of gay sex I'll happily watch gay porn.
My problem lies with the character of Spike.
Slash and Spike just don't sit right with me in my head, much the same way that Spike/Willow feels somehow icky to me (bizarrely, I am quite happy with Spike/Tara though). Spike has, from my perspective always come across as a little immaturely homophobic and I just can't for the life of me see him shagging Xander. I can see Angelus using sex to dominate and control him though, so Spike/Angel does sit a little better.
There, that's done. I can go back to sulking about all the slash about at the moment.