Bloody out of line? (a slang question)

[ftah3]

For the British hereabouts:  is 'bloody' a naughty curse word?  I 
read something the other day in which the individual commented on the 
scene in the movie in which Ron reacts to MacGonnagall's 
transformation with "Bloody brilliant," saying that if a child had 
said that to a teacher in a classroom anywhere in Britain/Scotland, 
the teacher wouldn't have quipped back, but would have probably given 
the kid detention.

Just wondering, so is 'bloody' really quite naughty?

Mahoney