I've read through the thread a bit, and instead of replying to comments I'll just type mine here:
I happen to know my family would have been directly involved if the historical reasons are true, because they were ship builders in Southampton at the time. However that bears little to the rivalry for me. I was brought up as a Saints fan, and told Pompey were our rivals, and accepted it, but I wasn't brought up to hate them, because I'm not a dick and neither are the family that sung me Saints chants before I could speak.
Incidentally, pretty much as soon as I could form sentences I would reply to "Up the Saints", with "and down with Pompey". There's not any animosity in that particular statement that my Uncle was so fond of repeating as I grew up when we'd watch football together etc. It's almost a mantra softened massively to just be cute when a 2 year old says it. But that doesn't mean the rivalry wasn't introduced to me very young, however it also doesn't mean the rivalry can't be friendly.
The rivalry for me IS friendly, I live in Southampton and know plenty of Pompey fans. We joke and laugh about it and get bragging rights after a win etc. We don't go around throwing bricks from garden walls because it's a back alley on the way to Fratton Park, (Which has happened). Or our away fans tear up a petrol station after losing away (which again has happened). Just because some dick-heads make it violent doesn't mean every Saints fan would get a gun and shoot Pompey fans just because the song says so.
Importantly in the arguments going on though. It's a fucking song. Whether you like it or not just comes down to personal preference. Some see it as a bit of fun, some see it as a way to keep the rivalry alive slightly while there's not going to be a match any time soon, and some don't like it. Who cares about it? Do you like rap music about guns, bitches and bling? Heavy metal about killing people? Do you think people shouldn't sing those songs because they're encouraging violence? Getting into a philosophical debate more than anything.
As for the friendlies (which was what the original thread question was about) I'd have to say no. It'd dilute the occasion too much. Not necessarily the rivalry, though it probably would in time, but it'd just be something repetitive, instead of each occasion meaning something, whether it's PL points or a cup place, with the fire of the rivalry making it an amazing day. So no, I wouldn't be up for the friendlies, and especially not a couple of times a year, that'd be ridiculous.