Did Charlie Hebdo engage in deliberately pissing on someone's beliefs? It's called satire, and those guys were taking the piss out of everyone who even remotely deserved it. Still, only one of the subjects of their cartoons got a response of lethal fire. That is no coincidence; most religious people are sensitive about their beliefs, but some a lot more strongly than others.
We had protests when "Life of Brian" was released, and the creators of that movie even received some death threats, but can you imagine the mayhem that a similar movie showing the life of the prophet would cause? It's unthinkable. And what I am seeing here (in Europe) is that many mainstream and influential politicians are doing exactly what you are suggesting: making sure that anything offensive to religion (yes, that means muslims) takes place out of sight "to maintain public order", and finally to simply ban offensive speech. In the UK, Labour leader Tony Blair has tried to get "religious hatred" speech banned, but succeeded only in banning actual threats, not insults. Their new leader Ed Miliband has vowed to succeed where Blair failed. Think about that. A criminal record for voicing critique on islam. In Europe, similar proposals have been made. Thankfully, support for "global blasphemy laws" that come up in the UN every so often seem to be running out of steam.
Religious sensitivities and public order should not play second fiddle to free speech.