From reading the above, it would seem to me that either the word 'cunt' has lots of different meanings in lots of different places, or a lot of people are misguided. I'll assume the former.

Speaking for myself, as I understand it, the word 'cunt' has three separate meanings and usages in my area (Australia). I'll enumerate them:

  • As a noun, not always derogatory, referring to either the female vulva or vagina (note: these are two separate things!) - e.g. 'nothing like a warm, moist cunt'.
  • As an insult; the actual word when used as an insult probably means different things to different people. e.g. 'You miserable cunt!'. For my own part, I think that it gets used as an insult because it is obscene, forbidden, and has a meaty, 'chunky' sound. When this insult is used around me, it appears to mean, roughly, asshole, bastard, or prick - but being stronger than any of those.
  • As a placeholder, referring to a person of somewhat humble status - e.g. 'Hey! Which cunts' stolen my beer?' or 'Don't worry, the cunt'll be along later'.
AFAIK, this is the most potent and forbidden single word in the English language.

On a side note, I had the pleasure of teaching this most essential swear word to an otherwise innocent international student hailing from Asia while I was at university. My good deed for the day...

On another side note, a local radio station is allowed to say shit and fuck on-air, but cunt was verboten, having to be referred to as the C-word. This made it somewhat difficult for the station on one occasion where listeners were invited to ring in and discuss the term...
The final caller had an opinion that I think is worth sharing with you all:

"I don't see what all the fuss is about ... it's a nice, warm, fuzzy, furry thing that everyone loves and wants to get closer to."

Amen.