Whelp.....
Not sure what I can add to this discussion, but It's worth noting that this latest brouhaha is really about how ill defined the concept of personal is. Trolling, despite it being considered bannable previously, it's essentially about antagonizing other people within the confines of the established rules. It was always unenforceable, but that hasn't stopped some people from finding ways to make things personal. What we're seeing now are some pretty insane attempts to make any kind of offensive comment a personal attack, usually by stringing together a posters entire history as context. Bucket's recent gun photo and the reaction it elicited is a perfect example of how what is perceived as threat can be expanded.
If you make the line of unacceptable behavior as attacks on the person instead of what he or she says, then it's clear what needs to be moderated, and most of this goes away. The bigger issue of getting more people can't be solved through moderation. You will never be able to moderate people into being articulate, witty, intelligent, and open minded. You won't moderate out well reasoned opinions. Most importantly, you can't moderate sensitivity to difficult issues. I don't want to say the old ASMB was better because it really wasn't, but at least there were enough big egos to keep each other in check. Ultimately, that's the missing factor here.