Hello :) 
Have only just seen this thread, so having a read.
I seem to be getting a severe case of deja vu
But always good to think about these things.
Respect is a funny word, because while my initial response is that it's good to respect the person but not necessarily the belief, in actuality the person doesn't always demand respect, as in the case of the pp's BIL or Hitler or someone or Cameron or Osborne or Duncan Smith
So I would say that respecting someone requires a certain level of action from that person to warrant such. A different word I might use is to value someone. I would say that everybody can be valued, whatever they have done, because in my opinion everybody is created by God in God's image, which gives inherent value. This does not mean that I sanction what they are doing or saying, whereas respect would, but that I see them as someone of value, someone loved by God. It doesn't mean that I personally 'love' or even 'like' them. I 'respect' people who I think are worthy of respect, I 'value' everyone.
As for 'respecting' beliefs - no, I don't see a need to do that. I don't respect some beliefs, but I value the person and respect many people as well. I don't think there is any need for atheists to respect my belief either, but I would hope that I could inspire some respect in them through my behaviour and respect of them.
I don't care too much when people use the old fairies and thor argument, I can see why they do. My own faith is robust enough not to be dented by such rhetoric, and it is a little tired now
- I look forward to the new 'sky fairy' metaphor.