I agree, but it's a growing process I guess. Each method has its merits (river and I had our little discussion over it a month or two ago). One thread keeps track of all the schools and lists who got in or not. The other keeps track of each person's profile and what schools they applied to (and the results). Finally, we want to form a wiki eventually, so people are filling that out too, as well as the special "member profile" forum that allows each of us to kind of keep a "blog" of our posts, like interview outbrief, thoughts, etc...
I think eventually the ideal way is to have the wiki for each user have all the information on it, and then have some program that allows you to sort by who applied to which schools or which schools have which applicants... not sure if we'll get there this year, but it's worth dreaming about!