N-word Use Ever Appropriate?

Over the last decade or so, there has been a massive push to eradicate the use of the n-word, a racial epithet that is offensive to those it is used to describe as well as those who are against the cultural barriers it represents. Many have adapted the word to end in an "a" and use it as a term of endearment, which is equally shunned. But for journalistic purposes, is its use appropriate?

If you ask CNN's Don Lemon, it is very appropriate to use the term for journalistic significance when it is not being used to describe a person but merely part of discussion of the word's use.  President Obama has come under fire for using the term in the way Lemon deems as okay.

What's your take?  Is it ever appropriate to use the word, or should it be banned from all use? Should historical manuscripts be altered for its removal? Is its use in the context expressed by President Obama acceptable?  What do you think?