Amen!
I am always disappointed when I see moderators resort to the knee-jerk, ham-fisted reaction of closing a thread. It's an indiscriminate scattergun approach, not a rifle shot. It denies valuable information to everyone, especially the majority of rule-abiding readers, instead of truly punishing the offenders.
I'm not suggesting the job of a moderator is easy or even pleasant, but the tactics that should be used are deleting the offending posts and meting out appropriate punishment for the offenders (no access to the thread for a period of time, no more posts to the thread for a period of time, no more posts to the thread ever, no more posts at all for a period of time, etc.). Can't we use a scalpel instead of a meat cleaver, especially for the more popular threads?