Yes, I've read it all. And to be honest, it bores me to death. But for those of you who all flap your arms in panic that you might get banned and consider moving to other journals, I'm afraid I have some bad news for you.
I checked the TOS of LiveJournal and yes, they do have the right to terminate your account without any prior notice. (My god, that huge piece of text was boring.) Yes, if you want to publish anything involving minors (under 18 years old) in a situation that might harm them or includes sex, you can be hold responsible, it can be removed or it can lead to termination of your account. You post at your own risk.
Now it's too late to check the TOS of ALL servers that offer a blog, but I know that www.greatestjournal.com has almost exactly the same TOS as LiveJournal. They are exactly the same when it comes down to terminating an account and what can be considered harmful, illegal or offensive works.
And I think that just about every server will have the same TOS. I mean, I live in a sexually free country. Sex is not a taboo here. Being gay is accepted here. Holland was one of the first countries where gay couples could get married. But even here, there are limits to pornographic contents, whether it's for real or for fandom. (Yes, I looked it up in that thick book containing laws. Gave me a headache, because it's difficult to find things in it. X_x)
So yes, you can decide to move and another blog server might seem a hell lot better, but you know why? Because you don't know anything about the problems that server might cause you, while you've had to face a few things LJ has the right to do and you didn't like it. My advice would be that if you seriously plan to move, read the TOS very carefully and even compare it with LJ.
Oh, and about that "Report abuse" button? Never noticed it hanging under each and every submitted artwork on DevArt? Besides, anyone COULD already report anything you posted to the administrators already. I guess all they want to do is make things easier. If it really bothers you, make sure you let them know that they should include the same menu DevArt has, and that the person reporting an entry as "abuse" should give a reason why they think it's against the TOS.
That being said, it's a true shame that my f-list contains only 13 people, of which half of them are hardly active (if active at all). No comments, because I need to get rid of this annoyance that has been building up steadily ever since the first mass hysteria flooded over LJ, and if I don't do this I might suddenly lash out at someone and regret it later. Comments posted on other entries dealing with content written here will be deleted without any warning or me looking at it.
There. I feel better. Good enough at least to focus on things that are really important to me, like writing RP entries and stories.