Yeah, one of the best hopes to generate traffic is to create content that's fun to read. I can spend hours sucked in at Cracked or TV Tropes because there's so much interesting, entertaining content at those sites.
Facebook sucks, to be honest. I liked it decently for what it was in the beginning (though I never felt it would replace forums), but with every redesign the site gets worse. The most recent one wasn't terrible I guess, but all the ones before that were awful.
The point about the images is a good one. And yeah, GameFAQs is awfully damn stuffy. Luckily it seems like your owners have at least started giving enough of a to start letting the staff actually do stuff. So the stuff I wrote about here, at least, you no longer need to worry about.
The problem with game content is, well, how do you outdo sites like GameFAQs anyway? It's not easily possible. Basically most of the problems in this post and its immediate successor still apply, with the additional problem that a lot of people have just completely abandoned them for social networking sites like Facebook. It's sad, but a lot of forums are probably just going to have to make do with less traffic. I'm not really able to spend much time on Facebook before I get twitchy, so I've just spread myself out over more forums lately. Then again last.fm is filling a large part of the void as well.
I told you we were going somewhere special for Christmas, didn't I? Look, we're heading in the right direction, I can feel it. You just have to have a little faith. The pub is a stone's throw away, I just know it!