Hi.
I can tell you're really fed up, and it's completely understandable, considering how much girls and women are subjected to unwanted scrutiny and verbal harassment on the street.
When guys try to solicit your attention (even though you're clearly not interested) or to elicit behavior ("Come on, baby. Lemme see you smile..."), it is a way to feel in control, to feel powerful. There is no right or wrong way to deal with the situation, but knowing what it's about might help you to know how you want to respond.
Some women refuse to give catcallers any power. They just ignore them--they don't have time to talk to strange people on the street and do not want their serenity disturbed. Some feel better when they can muster a quick comeback or snappy reply, but as you point out, guys often react in anger and a confrontation could ensue. Some women react differently, depending on their level of energy and tolerance.
It's not easy to figure out, but you have to find what works best for you. One thing you might do is to direct that energy into some anti-catcalling activity. Some women have gotten so fed up with catcalls that they've started to organize to help stop it. The New York City-based The Street Harassment Project, for example, has made it its mission to "work against omnipresent harassment on the street and in other public places." The activists create and host workshops for groups of high school and college students and community groups in an effort to raise awareness. They perform street theater around the city to encourage people to think about the topic, collect harassment stories, and even hand out cards that look like a sexual advertisements, but have statements against verbal harassment printed on the back.
If you live in New York, you might want to check them out and see if participating in a few activities helps. But even if you don't live in the Big Apple, the website includes plenty of helpful links to other organizations doing similar work--one may be in your area. Of course, you can always practice your comebacks with gURL's street hassle game!
I hope you will find the right way for you to deal with catcalls when the situation arises. And I'm sure it will...