But how many people would actually bother with it? Most people don't bother with settings as it is.
The problem with the personal approach is that we would end up with a lot of things as an option in the ACP or the UCP because people like to see things in different ways, and it was that series of options that ended up making vBulletin somewhat bloated; there's practically a switch for everything, even the most trivial of things, when really there shouldn't be.
Right now it's as simple as removing a small bit of line in a template if I remember a post by Kier correctly. If you don't want it on your board, remove it and you're done.