The way I see it people arent perfect, sometimes theyre moody, sometimes life throws them a bad day, sometimes they just gout out of bed on the wrong side, but its how a person moves on (or not) that decides whether theyre a "public" nuisance or not. The terms of conditions are quite reasonable here and I really dont understand why people keep bringing up the whole "freedom of speech" thing. There's never been a time my thoughts have been moderated, even if Ive passinoately disagreed with someone else. The only time I can see it being a problem is if someone is being unreasonable/trouble making/etc. that moderation ever comes into things. Even in the real world freedom of speech only allows you reasonable leeway. A person would be evicted from a pub (random example) for carrying on to the level that might see a person moderated.
Yes there's been a more than average amount of arguing and whatnot here lately, but in humble opinion it'd fade away if people just let it go.
As for my vote, I havent yet, but Im leaning towards the 2nd and 3rd options. Leave things more or less the way they are, but maybe be a little quicker to give a friendly nudge on the shoulder if a person is starting to behave like a clown.