No I would disagree with you on this one. When the word first came about it was meant as an insult but did not have the affect they (Mexicans) had hoped for. Maybe in Mexico it still might have some of the insult still attached to it, but I have been told by many different sources (both US and Spanish) that for places like Dominican Republic and Panama. Gringo is mostly used for someone from North America, mostly US. I have seen many conversations were the word was used and not meant in a mean way just a matter of fact way. Maybe I have been mislead, but that is my understanding. Mexico might be different.

Jerry