Other than spam, I feel reporting posts is indeed pussification. If you ain't got the balls to talk directly (either in thread or by PM) to the poster, I feel it's a real "running to teacher" to go reporting them. Be a man, or a woman, or WhateverDude, and talk to them about it. I would hope if someone took offence at something I wrote I would be contacted by them, not a mod telling me I'd been reported.
I want to be with the cool kids, not the chess club and teacher's pets...
My own personal position is that, if you know the person involved you should engage with them before running to the mods. They have other things to deal with, after all.