In a nutshell, having multiple topics for the different series and whatnot would be preferable to having one centralised thread. On some occasions, the "official" threads serve a good purpose but it seems needlessly limiting to confine all playoff talk to one thread. Having said that, we only need one thread per playoff series, ie. one Hawks/Celtics Series thread will suffice. It's handy to have those for a bit of general discussion about the series and predictions and whatnot.
However, if you want to make a topic about an exciting Game 7 or someone breaks the playoff scoring record or a game goes ten overtimes or something like that, don't feel as though you must post in the respective series thread. Again, those threads can be handy and they serve a purpose but if a topic is noteworthy, it deserves its own thread.
This should be the general approach here in the non-NBA Live sections, especially NBA Talk. The individual team threads are fine for a bit of general discussion, chit-chat during a game and such but not every single Bulls related topic has to go in the Bulls thread, not every single Lakers related topic needs to go in the Lakers thread, etc. Sometimes, "official" threads are preferable but generally speaking, seperate threads for different (but sometimes loosely related) topics are fine.
Any questions, feel free to ask myself, Jae, or one of the other team members.