I respectfully disagree. I wouldn’t recommend anyone walking in Old San Juan to address anyone as a cabrona. I can guarantee you’ll have at least one less “cojon” and perhaps be nicknamed “no-nuts” after that.
It is indeed a derisive word. I don’t know of any Spanish speaking country where cabrona would be spoken in polite company. It is an insult, and using the word only demonstrates the vulgarity and lack of class of the person who utters it.
I am only speaking from what I know. I do not know where you are from, but I do know that when I was in the Army, Puerto Ricans took much more offense to that word than Chicanos from Texas did. Here, around shearing crews, cowboys and roughnecks “cabron” is tossed around like “Niggah” is around Blacks.
When flirting and around “freer” women I have uttered, “No seas cabrona” (Don’t be tough/sly) many a time.
Kinda distracting posting on here and watching “My Name is Earl” at the same time.