It's only words. Those who care about you know who you are. Those that shun you for that statement aren't friends. You need to be secure in yourself. Pressing charges is a sissy way out and will accomplish nothing other then show your immaturity.
It would be silly to press charges. I would get him back. Find out what would embarrass him the worst, and do it publicly. He would leave you alone after that for sure. Second dont let him know it hurt you. Laugh about it. Your real friends know your not gay.