"I laughed at all the things I didn't hear!" This was PRICELESS! I was OBSESSED with this show back in 1978 when I saw it as a kid, but it's even better now that I'm grown up and understand the subject matter.
When Bill brought out the name Peter, I was thinking "Peter read the meter" or "Peter's going to teeter." Unfortunately, Bill petered himself out of the game with that one.
No, you would not, at least not from a character who would be considered likable. But even at this time, if they had said that about a man, you could get in trouble. Some early Match Game ('70s) questions used that answer (along with a couple other gay slurs) & GLAAD managed to get GSN, back when they aired the show, never to show them again. Stonewall was not yet a decade old in 1978, but that word still could have been problematic.
I agree with tubewings I don't think you would get away with some of the answers or the questions like what would a woman do if she lost her bathing suit !