Forgive me for saying - but is this crisis really a huge problem? Maybe I'm missing something, but if my memory is correct, a thread like the one in question breaks out once, maybe twice, a year on average.
I'm thinking the same thing, and I was intimately involved with the Stormtrack "nuclear bomb" restart back in 2005 (I think -- maybe it was 2006, though) when we tried to wipe the slate amid an "outbreak" of flames and tempers. Personally, I really haven't noticed the tremendous drop in SNR of which some folks write... We used to have nasty 'fights' in the past, and we've had a myriad of frivolous posts and members since Stormtrack first moved from Yahoo Groups earlier this decade. The off-season is typically a brutal time for these sorts of outbursts (heck, the uber-breakdown back in 2005 took place in August and September, IIRC), so I really don't think this is anything new (other than the inclusion of some "new" folks, and the exclusion of some who used to cause a few problems).
It's very easy to play 20-20 hindsight and point out inconsistencies or to complain about being repressed. The fact of the matter is that you should be respectful and professional... If you aren't, and you get into a name-calling situation, then don't be surprised if the mods have to step in and take action. On many matters, you can certainly express your opinions without any administrative repercussions assuming you do so respectfully. Of course, this is not a "free for all" forum -- you cannot discuss politics, religion, or other matters that tend to be highly controversial. I remember the "old days" when folks would scream and blast others in those infamous religious and political threads, despite the fact that nobody's opinion would ever really change and the fact that they almost always ended the same way.
I know what it's like to deal with administrative matters since I was a mod here for something like 4 years, and there is a lot of behind-the-scenes drama that the moderators must deal with. On the volatile days, when flame wars can spread like, well, fire, there often is not time for all the moderators to get together and discuss everything. As such, at least for the rapid-reaction events, sometimes only a couple of moderators are available to discuss the events and make a quick decision. As other mods are able to chime in and discuss the problematic thread(s) or user(s), secondary actions are taken to better address the problems (such actions can either be the issuance of additional suspensions/infractions, or the removal of suspensions/infractions/locks on threads/etc.). Sure, sometimes the best actions aren't necessarily taken right away, and some human error is to be expected. However, I still have confidence in the ST administrative staff, and I think they're doing the best they can do to help keep this forum running smoothly.
P.S. - Always feel free to contact the mods! I loved getting feedback from members when I was a moderator, and I tried to address every PM and email that I received. If necessary, each and every matter was brought up to the moderators for discussion as well. It does no good to take the notion that the "evil moderators are evil" because they are charged with giving infractions, moderating threads, and so forth. These moderators are your fellow chasers, and if you have problems, you should take the mature route by communicating them to the moderators.