I'm in no way justifying any violent reaction to any form of satire, as cheap as i may find them to be. But like i said i see no corrective purpose in ridiculing religion or nationality, i just don't see it. Insensitivity to the situation, to the timing of our actions, and to the feelings of others is not fearlessness in my book, it's head&heartlessness. Imagine you are against this xyz policy and you want people to understand what's wrong with it, you make jokes about it, chances are people get it more easily, so you can educate them through satire. Now how exactly do you educate an extremist by making fun of what he deems holy? You are not challenging anything. Your audience is first and foremost people who share your opinion, and your purpose is first and foremost to provoke. I honestly see no use/value in that. In the grand scheme of things in fact, i'd say it does more harm than good. I'm not saying this type of satire should be banned (since you referred to freedom of speech), but i believe refraining from resorting to those means is a sign of a responsible artist.
Btw, i think you are also wrongly equating making fun of Islam with making fun of islamists.
EDIT - again, what i said above is just my definition of a good satire. I know that for many people satire can maintain its artistic value without having to have any particular purpose.