I've been with a few squirters. I've also been though medical school and looked at about 500 vaginas during the course of my 4 years in practice.
I read one study a few years back that looked at the composition of ejaculate from a few female squirters. Their conclusions were, unequivocally, that it was essentially dilute urine, mixed with scant other glandular secretions from the vagina. Small sample size, but here's why it doesn't matter:
Anatomically speaking it is not even possible for the vagina to hold (much less expel) that much fluid, especially when there is a piston ramming in and out of there prior to said squirting. The ONLY reservoir in the pelvis capable of holding and expelling that much clear fluid from the vaginal area is the bladder. Yes, there are other glands that secrete mucus for lubrication, but these glands arent reservoirs, and they arent capable of 'squirting'. That's not how a gland works.
And thinking back to each and every squirter I've been with, there was a smell of dilute urine. Not frank *urine*, but a close relative.
LYD, I like you and think you are a great contributor to this forum, but I have to disagree here. It's pee. Maybe dilute pee with some other secretions, but more pee than not. At least until I see some evidence otherwise.
As far as the actual social/intimate aspect of it, I'm not bothered by it and I dont think most men would be. I wouldn't want it in my face, but that's just me.