Create an archive database on the server separate from the live database. Move all old posts to the archive DB and then you could either search it only when the requested content isn't found in the primary DB, or run two separate versions of the planet (chiefsplanet.com and chiefsplanetarchive.com). If you want to look at old stuff go to the archive site. It won't get nearly as much traffic so even with all the content it shouldn't lag.
The users really shouldn't effect things, especially if they're not even logging in and being active anymore.
Looks like you're using DirectNIC for your domain hosting. I use them too. Who are you using for the web hosting, though? Are you using the same server for Apache and MySQL or do you have them split up? I would definitely recommend a dedicated MySQL server if you don't already have one. Rackspace Cloud Servers are a great thing to look into if you're curious about doing something like that. You could get 2 dedicated servers running constantly for $100 - $200/mo depending on how much you beef them up. You can easily scale them, too, so upgrades a very simple. Just tell it you want more and your price will go up a little bit. If you can't generate that amount of money with the traffic you get then you're doing something wrong.
On that note, I've always noticed that donate buttons do not work. Make it say "buy me a beer" with a little beer icon next to it. Set it to $5 and watch the "beers" come rolling in to your PayPal account. You won't let me do it here, of course, but I get lots of "beers" from other forums that I post in because I put a buy me a beer button in my signature and I provide valuable content. (On that note, I'd provide more content here if I could put that in my sig, and people like GoChiefs and all the people who enjoy his content would benefit from that ability as well. I know he could use a new capture card). You could even setup a revenue sharing system where people who provide good content can qualify for revenue sharing and automatically disperse some of the donations accordingly. PayPal's new Adaptive Payments API's would make this type of thing really easy and would probably encourage people to start providing better content at the same time as generating plenty of money for servers and even profit.
I could keep typing more and more about this stuff but let me know some details and I can help. There's no reason with the amount of traffic you get to this site that we can't generate enough money for decent servers.
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