I think there are only two good things that come out of censorship. First, it makes shows like South Park all the more funny. And second, hypothetically, if there was no censorship what-so-ever, you could be flipping through channels and land on some beastiality porn. Now, personally, that's not my kind of thing and I do not want to see that crap.
But, as far as censorship on language, I think that is utterly ridiculous. I remember I was watching MTV (a sheer testiment to how very bored I was that day), and a video for a song called "Jesus or a gun" came on and the word Jesus was censored out. Also, I've noticed this on most networks, whenever a person says "Goddamn..." God is bleeped, but the damn is unchanged. That seems odd to me.