Personally, I wouldn't use the term...well, I say that, but I use it a lot. Just not in argumentative situations. I use it in a comical way, because sometimes racial stereotypes ring true. You know, a black guy that really likes chicken, grape drink, menthol cigarettes, and shitty rap music. That's funny to me, not a reason to hate someone though. I don't actually believe that he is like that because of his race, but it does make me laugh when it happens that way.
The "shitty rap music" was a brilliantly subtle and original way to put the joke.
