The word is severely overused. It is used all the time to describe different emotions--or irrelevant actions--in place of more accurate phrases.
In general terms, I am guilty of the same thing. I very freely say "I love pizza" or "I love David Bowie", but strictly speaking, the word is too strong for these concepts. "I like pizza a lot" and "I'm quite fond of David Bowie's music" would describe the situations more accurately. I never use the word, however, to describe infatuation or sexual intercourse. These are the misuses that annoy me the most, and I make sure never to be guilty of them myself.