Greg-- don't be "more Irish than the Irish"! In the nearly twenty-two years that I lived in Ireland, almost everybody called it "Paddy's Day", because that's what it is-- the day we celebrate our patron saint, Patrick. There is nothing derogatory or demeaning in the term, unless one wants to read into it some sort of slur based on the second most common boy's name in Ireland (Elvis being the most popular, this week. ) So kick back, enjoy the day, and don't get stocious drunk on Paddy's Day.
Slainte--