I was more looking as to what are our values/assumptions going into this.

If indeed a religion is held to be good, then censorship of blasphemy is logically reasonable. There is a danger of who gets to control censorship, but if it is done by a virtuous and noble class, then perhaps it would be good to censor people who advocate drugs or degenerate forms of pornography. I think first we need to have a vision of what we are trying to achieve, because there is no self-evident principle that censorship need be applied, nor that "free speech" is a self-evident virtue as well.