Really bad comments are not the root of the problem. Simply having large number of mediocre comments crowds out and discourages thoughtful discussion from starting at all.
I'd say:
* create some real cost to making comments
* make bad comments disappear/not display at all with time
* make things less democratic -- to encourage good behavior identify users who have this behavior and make this behavior more prominent programmaticly
I've got no citation at all, but I'd bet that people who have N comments left in the next week will be more miserly about using them. You could also make exceptions for replying to replies and that kind of thing, so as not to artificially limit back and forth (which is sometimes a good thing; for example, tcptacek and zedshaw always have good conversations, if a bit argumentative).
It'd cut back on people who shotgun "funny" comments and have them land occasionally without disrupting people who try to only comment when they have something valuable to say.
A set of super voters would also be good, but, again, not super democratic.