The thing that makes people sign up an participate in a board is when they see that there is a thriving community, and if the board has some Character.
For example getbig is cursorily like any other bb board, but what makes getbig so successfull is that this board is super honest and does not kick ass, plus the cool members and that you have very little punishment here.
This board in a way is moderated by the members.
To get this going on any new board and to get a board to that stage were you can say you have die hard users and not only people who sign up and post from time to time is pretty hard just have a look on sitepoint.com and read some of the Howto's how to get a community going.
MD should just relax a little and get the board sorted first, they rushed it way to fast, there are tons of good and very usefully hacks for Vbulletin , and free (or payable) Themes that are low bandwith as well.
What they should do is not try so hard to be a another no bull getbig board,,,... it probably took years for this board to become what it is now and to mature to a (sometimes) harsh but honest place.
MD is trying to rush this and it will backfire.