Yes, I get it. You've done a fine job moderating. Your decision to go after jimmyz makes perfect sense within the context of the rules mattering.
Here's the thing: the rules don't matter. Everytime another active poster gets suspended or blacked out here, it decreases the chances of this site ever growing again. Because frankly, beggars can't be choosers. If you haven't noticed, this board is dead. If Dylan, Comrade, Medius, Saz or myself stops posting, that's a 20% drop in activity.
If you look at all the successful political forums, they have very minimal moderation. They'll throw out the Stormfronters, but only sometimes (when they get around to advocating another Holocaust typically). The reason you ask? Well, the very point and utility of internet forums is that you can speak in ways you wouldn't normally, IRL. Sometimes this means nastiness, but it most often means interesting discussions.
Further, why does PCF even still exist? It should have died years ago. Answer: because the people here have established a legitimate social bond, and have long accepted the faults of one another. Moderating this board is like going to a party and kicking people out because they called their friend - whom they've known for 15 years - a gay person (or whatever). It doesn't make sense. I personally find 99% of the remaining members to be nearly retarded re: politics, and yet I visit everyday, religiously.
All of which leads to a conclusion: we need to take a different approach. The sensible approach you advocate makes sense in a community of 1000s. But not here. You should seriously consider the offer I've made above. If you sell me the board, I'm not going to ban you or anyone else. Not Spider or *shudders* Kane even. I'm going to instead put my considerable web developer expertise into growing it, and I have the time to do so. You don't. For the love of God, man, do what's right. Jimmyz is nearly universally loved here. And even if you won't sell the board, you should realize the community has spoken.