I've always read the Virgin insult as the insulter being jealous of the insultee for still having it, but covering it up by trying to sound macho.
Frankly I'll wait for that special someone. It's more special that way than if you lose it to a half-conscious drunk chick at a house party.
Safer too. Did you know that a girl being drunk at the time can still legally cry rape after the fact and get you thrown in jail? Sure sucks if she has second thoughts the day after and notices you aren't the catch she thought you were when she was wasted.