Glenn, first and foremost I want to say you run a great site and just the fact that you are willing to discuss this issue proves why. As others have said, this is your house and it should be your rules, but I applaud you for the fact that you are open minded enough to consider and/or discuss the rules for possibly the benefit of the whole.
I think the rules you have are fine; however, I'm not sure how things work in the background, so it's hard for me to say if anything can be improved. Perhaps you can help clarify. When a moderator is forced to make a decision, is that decision based solely on his/her own judgement or is it discussed with the other moderators in advance? I only ask because moderators are humans too and we are a diverse lot, so all judgements may not be correct, but if these judgements are discussed by a larger diverse open minded group, then its more like a democracy than a dictatorship. I stress open minded in the above sentence because if mods are just going to support their fellow mods because they are fellow mods, then it's pointless.
Rule #4 states: Overly Offensive posts will be deleted. This means use of profanity, posting offensive images, or generally offensive content.
With regards to the 'boob thread', the overly offensive posts were not deleted, the entire thread was deleted. If the entire thread was offensive, then why was it allowed to go on for 50 pages? It should have been nipped in the bud in the beginning. I didn't start the thread, but I along with others contributed because it was fun and others seemed to enjoy it. I personally felt it began to push what should be allowed, but to my knowledge no warning was ever given... at least publicly to the group as a whole. We were never given a chance to fix the problem ourselves, which I felt we have a responsible group of members here that we could and would have done. Heck, we would probably have all agreed to quit posting and have the thread removed if it was suggested.
This isn't about the 'boob thread'. It's about how it was handled. If we were all having a heated oil discussion and I get out of line and there is the potential for others to get out of line, I would expect my post to be deleted and the others warned about what wouldn't be tolerated. I wouldn't expect the whole thread to be deleted.
The only other thing that bothered me was locking the thread discussing the deletion of the 'boob thread'. I know the rules state that 'mods are open for discussion, but please use PM'. That makes perfect sense when the mod's decision relates to 1-2 individiuals, but when it relates to many individuals, it is hard to not have an discussion with all the effected members. Granted I'm sure Heffay felt like he was standing in a public firing range and I apologize if anything I said contributed to that. I think most of the discussion was in jest, but still with a point. I have no problem with the 'boob thread' being shut down, I just felt it was handled wrong.
BUT, its your house and your rules and I AM just a visitor, but thanks for taking the time to listen.
--xTalon