I don't think "faggot" was ever a term used self-referentially.
On a related note, today I heard someone on the street call a buddhist proselytizer a "cocksucker". I was so aghast that even here in big tough New York, that there are people who talk like that in public, loudly, pejoratively to complete strangers.
Do people with such trashy every day language come from broken families, or what? And more to the point, lots of people of both sexes have engaged in such activity; does that mean on your Facebook profile that you'd "reclaim" that term by referring to yourself in that way? I don't think so.
That said, I've been around long enough and met enough gay people to know that there are many openly gay people who DO refer to themselves as "faggot" or "queer" as a means of neutralizing these terms, in a kind of 'reclamation'. Having been gay all my life, I am biased in supporting other gay people unequivocally and reflexively, as I know the kinds of shit straight people and society in general dishes out. Thus, if you are gay and want to refer to yourself in that way in good faith, go for it, as far as I'm concerned.
But I wouldn't refer to myself like that, except in very rare situations that I can't even think of ATM.