Splitting it up into separate groups would work but I think fanboys would inevitably wander to other sections to brag or damage control. Mods would have to have a harsh crackdown on that kind of stuff but given how mods seem to enjoy being in the fray (by changing titles or people's tags), I don't think they would do much.
Typically the fallout settles once consoles are firmly in their positions until a lot of details on the next gen consoles emerge. Things somewhat seemed stable this summer until rumors of the PS3 slim hit. I think we'll end up going through the generation with the same crap. Even if PS3 slim sales go back to normal, they're going to think that the next price drop will be the big one or how Gran Turismo 5 might be the game many million people are willing to get a PS3 for. Nintendo fans will always complain about how they're no longer getting the newest, hottest shit. With Galaxy 2 coming out next year, I think they'll just focus on that. After that, you know rumors are going to start about the next generation. Maybe a DS successor getting announced, I don't know.
I agree that the board is too big. This might explain some of the hyperbole: these people, knowing that some threads can receive 30-40 new posts per minute (NPD, E3, etc.), they need to step up the hyperbole so they can get noticed. A game is no longer good, it is "holy fuck this is awesome wowsome." A game is no longer mediocre, it is "this game is so shitty omg." A bad game just gets laughed at or photoshopped. Hey, how about throwing Wolverine in there? What a fantastic idea! This is true because a lot of GAF members want to get tagged, even if it is humiliating. It means some mod or admin took a few seconds out of their life to recognize this person. GAF fanboys these days
need recognition and will often go nuts without it.
As for the

, I adblocked that shit a long time ago. I basically adblocked anyone with a fad avatar, playstation.com emoticons, anime lolis, and basically every avatar that featured a woman in a sexualized pose (except for your Hayek avi, Jinfash) Reason for the latter being that most GAF members (on both sides of the issue!) have very awkward gender discussions.