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I'm going to give people a page that lists the things they have ignored.
Ignored things will always be directly accessible if you know the URL, but will never be returned in collections (search results, forum contents, comments on an item, etc).
So there will be this one page, that will be exempt from that, a super simple list of the people, forum and threads you've ignored.
That's how you'll unignore something.
Profiles should remain I reckon. How else will you remember who you've ignored? :)
The other stuff sounds reasonable. People just want to hide their comments right?