Its an interesting one.
I kept changing my mind about it. On the one hand, I have long been of the view that religion itself cannot and should not be protected, any more than any other personal opinion. Yet I do see how groups like the BNP use Islam in place of Asian and that is wrong and provocative. The compromise seems reasonable, yet when you see the BNP being able to get away with saying stuff which is very clearly racist, it does make me ask whether we need to be quite clear about what is acceptable and what isn't.