Not a fan of that word. Some people use certain words in anger and it is not indicative of what their agendas and prejudices are, others use words as weapons and they are completely indicative of same. So how do you determine that unless you know someone well enough? Best option for me is that people refrain from using them in public and in places such as school, the workplace, etc. Using a word like that as part of a consistent overall pattern of language and behavior is a problem for me.
Words aren't always just words when you've been the victim of verbal harassment and/or emotional abuse, chauvinism, things like that. The scars from that can linger long after any scars from physical abuse. You never know where someone is coming from and what they have experienced in life. People have varying levels of sensitivity and you can't impose your level on them and assume they're the same.
Yes "taking back the word" does sound like psychobabble, if I want to empower myself there are much better ways than referring to other women in that way. When I get angry at other women I do the best I can to catch myself before I say something I regret. Yes some women are just not nice people, but they're also not bitches or whatever term you want to use just because they stick up for themselves or take a stand when necessary. A consistent pattern of being/behaving a certain way as a human being usually constitutes "bitch" to me, I have my own definition but I'll keep that to myself. One thing I do know for sure- women are called bitches and the c word for behavior that is applauded in men, quite often.
I find for me personally, the best way to empower myself is through self awareness and through feeling good enough about myself to believe that I deserve better. The more you do that, the less power any words can have over you. That being said, I certainly would avoid any man who consistently uses that word or certain other words. Bad news. I am also still very disappointed when a man I admire, and I believe him to be a certain type of man, chooses to use words like that. I think as women we should be building each other up, and for me personally calling each other the c word just isn't the optimum way to go about that.