Their greatest hits album just mutes that entire verse so you just have this long pointless solo/bridge.

But I don't get the point. Isn't it a conversation between working class mooks that resolves that homosexual signifiers are meaningless when the person under discussion is drowning in pussy and money (and that slur may even just arise out of resentment)? Is this not how people spoke at the time? It's like banning Huck Finn because there's an n-word in it.