[Error: unknown template qotd]I'm a moderate swearer. I like these words, because they help me vent or get across the severity of something.
With "shit" and "fuck" I'm a rather conventional swearer.
In English I usually don't use substitute words (because they strike me as stupid-silly), but sometimes I use them in German, because I consider them fun-silly.

Overdone swearing annoys, as does censored swearing.
The problem I have with the latter is probably the same I have with substitute words. I just don't see the point in using them - if it's clear which word you really mean, then just use the real word! I find it especially annoying, when swear words that are only cited are censored. Last night I saw an article about the sciene of swearing and my god, was it annoying to read an article full of asterisks! Especially considering that they only quoted the words, not called anyone names. So there's no reason why anybody should be offended by those words and no reason to censor them.
What I don't like about excessive swearing is it sounds stupid, is pointless and makes the words lose their strength.