I love a good, back and forth debate/discussion. I hate a back and forth flamewar.
I refuse to turn over management of a forum to anyone until they can recognize that there is a difference between the two. There can be a very VERY fine line between the two, and it can further be blurred by your own personal experiences and opinions, but that line must be drawn, and it must not be crossed.
It's certainly not an easy thing to determine. And I've been managing a pretty big site for close to 10 years now.
Things liek target audience of the forum. Target audience of the product the forum is there for, the area of the forum, just knowing the people (when it comes to punishment.) etc. etc.
Here, take for example Bob Salvatores forums:
His target audience is a younger crowd.
The audience of his forums ranges from young teen to folks in their 60's and 70s.
The other day, someone posted a picture thread about "eye Candy". started off with some photos of Megan Fox. Personally, I had no problems with the pictures (actually, ahem, I saved them

what? I'm a guy. Don't judge!), but the pictures were pushing the limits and could very very easily tip that scale. I removed the entire thread.
The original poster? Nothin' Not going to give him a warning. I know the guy, and his intent was NOT to start something that shouldn't be there. It's just who he is.
Some folks might cry foul that I would treat a long time forum member differently than say if someone had posted that as their first post. To bad. Of course I did! Because again, the intent can have alot of meaning. I've seen people post things with intent to be cruel to others. And I've seen people post things that while yes, it may be extremely offensive, it's who they are. They were not intending to be mean.
Or take me for example. I'm not a jerk. But I come across as one because I'm quite blunt.