Hi,
I consider myself still kind of new, so I thought I'd chime in on this with a newbie perspective.
I like the simplification, but perhaps it's a little over simplified. Seeing only the WIP version would make me go to an admiral/cap'n and ask what the *real rules* are ("So, what'll get me banned?"). However, I'm a little more outgoing than some others might be and have no problem going up to fleet leadership.
I think the WIP is a good preface or summary (or TL;DR version), but there should be the option to keep reading for specifics.
Actually, the older one doesn't really have cut-and-dried rules.) I think it would be nice if you had what's there and a little list like (..4. don't !$/%# swear! 5. keep it friendly for a 12-year old (ie we're here to game; no one wants to hear about your unspeakable extracurriculars.) Obviously not phrased as jokingly, but a appendix of don'ts might be a nice add-in. Maybe the admin can get together and hash out that list.
I would also want to tweak the formatting and make it not italicized. Keep the indent, but its not like the whole thing is too long to read otherwise.