Dmagnus- First of all, please don't give up your position as mod. We may end up with bud or some other clown instead. You may have the same trouble getting things done as other honest mods, but at least you're trying.
I've mentioned here before (my previous post, in fact) how rocket gets away with everything. Not sure what to do. Admin has refused to act so far. But remember that they will enforce the TOS extremely rigidly at times. For example, I knew IW's post that you mentioned wasn't going to stay up very long. If I remember correctly, in a long, very good post, he couldn't resist putting in a phrase or two about "negative posters" or something like that. That will get you booted. Remember, posts there have to be solely and completely about the stock, not about other posters, or they risk being deleted.