So it's one of those things where you look around real quick to make sure then you say it huh?

Since you think it is so ok then why would you even have to worry about who hears it? Would you say it in a mixed crowd of people? If I walked up and said something like, "What up my chink" would that be ok? How about, what up my honky"? Since we are tossing around racial inflectives why not insert kike, gook, wop or any other racial term that can be thought of?

Why just limit the phrase to one race if it isn't meant as an insult and is nothing more than a word replacing "dude". I mean shit I could think of a couple hundred things to put in there instead.