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He has stopped spraying since then and though we still can't hug him, his behavior has mellowed. He still picks fights but he has chosen only one other cat, Dumpling, to growl and hiss at. He likes playing with the kittens and has become friendlier with his humans. When I would be petting and playing with the kitties, I would see him looking at me. Seems like he is only waiting for an invitation, because when I call him, he would come near me and wait to be petted.
Neutering of cats also decreases the urge in males to go out and look for females. This will make them less susceptible to fights and getting run over by cars. And as responsible pet owners, we should also try not to add to the population of homeless cats if we are not willing to take care of the kittens they sire.