[Modernman]

This being said, if I deliberately set out to insult Muslims (or homosexuals) anywhere then I deserve to be sanctioned as per the local custom

You've just imposed prior restraint on speech based on the listener being offended. To shut down criticism of Islam, all Muslims in such a system would need to do is cry "blasphemy."

Our society is of two minds about hate speech laws because it lost all social convention.

Our Constitution isn't, however. Hate speech laws are unconstitutional.

[annalex]

To shut down criticism of Islam, all Muslims in such a system would need to do is cry "blasphemy."

No, they would also need to show that I blaspheme rather than criticize.

Hate speech laws are unconstitutional.

You brought them up, not me. Public decency laws were upheld by the courts till maybe very recently, by judges who had a better understanding of the Constitution than the current crop of imbecils.