I'm glad someone brought this up.
I'm a participate in another forum that's been running independently since 1999 - formed, maintained, and populated by a group of gamers. Granted, it's somewhat private and has maybe ~60 active members, but I raise it because it is, quite literally, completely unmoderated. About 6 people are administrators that take care of technical and housekeeping (e.g. wrong folder, double post) issues, but there are no policies, no moderators, no locking, very few splits, and in general it is up to the community to police itself.
And it works.
While that model might not work here due to the number (and ages) of the membership, I'd also agree that the locking gets a little heavy-handed... and I get particularly irked when a thread I'm contributing to gets locked/unlocked/locked repeatedly. And yes, that happened not two months ago.
All in all, GD posts are more prone to getting out of hand, but I think there's a fair argument to be made for less formal moderation and more correction by peers - you get enough people actively contributing to a thread (even if they are debating) and the useless nitwits will eventually give up, fade out, or be entirely ignored.
Nothing against the moderators we have, but personally I'd prefer if GD were left unmoderated, save for housekeeping matters - it's general discussion, who gives a **** if some people get out of hand - the rest of us are perfectly capable of acting like adults and ignoring them.
Just my $0.02
And Battuta, if you don't start capitalizing the first letter in your sentences again, I'm going to track down your address and mail you a box of old keyboards with nothing on them but Shift keys, so help me.