I just want to address this as well since I've been admin-ing the site now for about 6+years.
I can tell you without a doubt, without question, if you allow trolls in, if you allow them to amuse you and never go about reporting it and instead tolerating it, you will eventually regret it. Whether a few months, year or two years, you will 100% regret it.
I've seen quite a few high profile/traffic forums go away because it got so bad and annoying to visit people just stopped coming. It's funny for a little while, even I admit, but then it gets old real fast and the place goes to shit, and all your good posters just stop posting and leave.
Food for thought.