The BBC have some guidelines around what language is considered acceptable for broadcast in the UK:
http://www.bbc.co.uk/editorialguidelines/page/guidance-language-full/
The three most offensive words are given as "cunt, motherfucker and fuck (which are subject to mandatory referrals to Output Controllers)" followed by "cocksucker and nigger".
Mid-level swearies with restrictions around post-watershed use include "wanker, pussy, bastard, slag".
Meanwhile "crap, knob, prat, tart" are all considered mild and "unlikely to cause widespread offence".
It also says: "Additionally, words or names associated with religion, such as Jesus Christ, may cause offence to some, but they are unlikely to cause widespread offence according to generally accepted standards."
Ofcom (broadcast industry regulator) published a massive study littered with rude words which you can find by googling "Ofcom offensive language".
Personally I have no problem with swearing when with people of my own age or people who are happy to swear around me, however I try to avoid swearing around my parents who still think they live in the 1950s.
Even today in my office the dulcet tones of one of my colleagues drifted over to my desk: "Fuck fuck fuckity fuck".
My favourite words are nice short Anglo-Saxon ones (cock, arse, tits are frequent at the moment) - the longer compound ones seem rather pretentious (although buggerfuck is in my vocabulary).