It's an interesting look. Any comments I have are regarding the cosmetics.

Putting the "from" line on a sperate line does help the board to look cleaner and tidier. It involves more scrolling down to get to content, which I can live with, but it may be frustrating for people with palmtop or other small-screen systems.

From a design point of view the blue boxes around the avatar pictures are too heavy. Being a bright colour they detract from the image they surround. A thin blue line, or a thin blue line with a black interior around the (slightly larger) image, might work better. This is especially important with replies that run to two or more lines, where the blue box stretches quite high vertically.

The default no-picture image is still pretty poor too. We all resemble bulbous-headed chess pieces if we don't have our own picture? Shrunk down that small the image becomes a dull grey blur. Better to find a nice black-and white PVB logo and use it there, or simple keep the blue dots as a default where no picture is registered.

While you're overhauling the graphics why not find a way for the little M-for-moderator logo and paperclip images to appear over the bottom left hand corner of the avatar image, in the way that the little shortcut arrow appears over a graphic in Windows shortcut logos? Anything that reduces the board's clutter while retaining its information is a good thing.

I see the reason for dropping the font size of the poster name and tag line but that size print is getting a little bit small for me to easily read these days. If accessibility of the product is one of your goals that could be a problem for people with vision impairments.

Finally, from a practical point of view, because I often have problems getting PVB pages to load I'm finding that the new avatar-picture-heavy page often gives up before loading all the images, leaving me with little marker boxes instead which don't look too good.