Depends on the type of censoring for me. Pixels over boobs is a no no for me. Pixels over anything really just pisses me off. Not just for nudity, but in gore scenes like Umineko no naku koro ni. The one bit of censoring that angers me the most is what I like to call 'Barbie Censoring'. Basically when they show the character completely nude, but they are missing all the essential parts that make them nude, thus making them look like a barbie doll. And last but not least the unintentional censoring. Basically where the nude parts are covered with bits of hair, a thin string, a passing cloud, spa steam, bits of clothing, etc. It's frustrating, but can add to the tensions sometimes.
Sometimes, however, when they censor things by completely leaving them out of the story then it can become beneficial. I loved the Fate/Stay Night visual novel, but honestly I could have done without the crappy fanservice, hentai scenes that were later left out when they ported it to Playstation. They added nothing to the story, took the characters out of character, interrupted dire events, and generally just sucked. If the scenes were packaged separately from the game then I wouldn't mind so much, but including them in the game was a stupid thing to do.
