Those wacky Europeans are at it again! Serge van den Oever has announced a free list template for Windows SharePoint Services, the Macaw Discussion Board... the way SharePoint discussions should work... and now do work!
Discussion boards are a sore point for many SharePoint users that have experienced the richness of more mature discussion/bulletin board user interfaces (e.g. phpBB).
Macaw, a Dutch (in case you hadn't guessed) IT consultancy have produced a really nice list template that solves many of the problems that SharePoint discussion boards have. The list template is documented in Serge's blog post, and is available for free download from Sourceforge.