financeguy
ONE love, blood, life
No problem. You should seriously consider it.
Gay people find the term "faggot" extremely offensive. I don't identify as queer, but if i did I certainly wouldn't use that word in my sig-name, because it's regarded, for good reasons, as an extremely homophobic.
Bear in mind that a large part of homophobia is internalised self-loathing - studies have been done.