Interesting. We have the same slang in Australia.
That's because Austrailia was under British control far more recently than the US.
Faggot in the UK was originally a meat ball (and still is for the most part) but the homosexual meaning has been imported from the US very recently (I was about 14 when I learnt it meant queer) and isn't used thad much apart from on the Internet.
Fag means a mundane chore/favour for someone or most commonly cigarrette, it's also an imported from the US as an abbreviation for faggot/homosexual.
Another slang word I've never heared on a US film is wicked, if used in the right context it means cool although it's isn't as fashionable as it used to be.