Well I'm for limiting the sexual innuendo in front of children (especially if they won't get it)... Profanity, on the other hand, is just how people speak... it gets the point across a whole lot faster and more effectively than other forms of communication. I could be covertly pissed off for weeks, rail on someone for 15 mins. or just call him a Motherf***er and be done with it... but no, we have to protect minds that are sensitive to that...
Also, for those religiously concerned, both cases would be equally bad, since there's the "not loving your neighbor" going on, but technically, even for those that are extremely rule-bound to the Bible, saying most profanity wouldn't break any commandments... the rules about swearing are about taking oaths, not about profanity, so technically only terms such as "g-ddammit" would be prohibited... and even then God technically isn't His name, but one of the many "names" attached by humans to avoid breaking the Third Commandment, like Lord, Adonai (Hebrew word for Lord), etc... since the word "god" is Germanic in origin, it is impossible to have referred to Him originally...