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SBNation actually performs the majority of this, or at least allows for it to be performed.
The banhammer should be used sparingly, and it should be for serious offenses or multiple repeat offenses after warnings.  For my own example, it was just a political thing.  They never issued me a single warning for anything I posted on their site, the little guy just couldn't take dissenting opinion of his position, so he took out one of his most eloquent opponents (me) with basic thuggery.
It's all good, though.  I take it as a clear compliment to my logical and communication abilities ;)  Online interactivity will continue to evolve, and the soft rules governing online interaction will become more defined as time goes on.  On the internet, the Free Market wins out.