the AHD has this for 'bare-naked' -
The chiefly Northern U.S. expression bare-naked illustrates the linguistic process of redundancy, not always acceptable in Standard English but productive in regional dialect speech. A redundant expression combines two words that mean the same thing, thereby intensifying the effect. The expression buck-naked, used chiefly in the South Atlantic and Gulf states, is not as clear as bare-naked with respect to its origin; buck is possibly an alteration of butt, “buttocks.” If so, bum-naked, heard in various parts of the country, and bare-ass(ed), attested especially in the Northeastern U.S., represent the same idea.
if this supposition of buck-naked being a euphemism for butt is correct, then we've come full circle.
here's one professor's viewpoint on pc-ness:
http://www.wsu.edu/~brians/errors/butt.html
