I'm guessing that with all the fuss, the word chink will not become obsolete, but will be used more often in it's derogatory context. There may also be a percentage of Asians that take ownership of the word and use it in yet another context, at which time we will need to decide whether that is ok or horribly wrong.
Here's what really bugs me about this beyond the words. There has been so much fuss about how ESPN was wrong to bring race into the equation, assuming that they intended that connection to be made. And yet so much of Lin's popularity and story have to do with his racial makeup, and that has been sanctioned as cause for a great deal of pride and celebration by those that can claim a racial connection. News outlets are working the race angle non-stop. It sells papers, and garners ratings. We've come a long way from when it was so easy to slip stereotypes into our everyday culture, and yet we still make far too much of what are ultimately insignificant associations. Part of the problem, in my mind, is that the true injustices of the past have not been addressed properly at all. Instead of giving the descendents of slaves their rightful compensation, we point to Jackie Robinson and all that followed, and try to avoid the N word, even if it's niggardly. Or we can look for some headline writer to be canned rather than address the truly ugly hatred that has existed and still lingers in too many places. That's the real world? It seems like bullshit piled atop bullshit - small lies to shield us from big lies. Wonderful.