#2 - about Aids? As #5 says, that wasn't discovered for another seven years after this song, Freddie prolly didn't have it for another ten. Check your facts!

Queen will always remain mum about this because they were sued by Trident Studios Exec' and their first manager, Norman Sheffield, because HE certainly thought they were singing about him. As with all broken relationships, it's hard to know what happened, but it seems the band ended up disagreeing vigorously with Sheffield's management of their business affairs, that they ended up earning very little out of their first two or three albums, and blamed him. There's no doubt the management split was acrimonious.
But, hey, at least we got an awesome if vindictive song out of it. Well, allegedly. ;-)