See this question in which someone asked for an update on the status of an arxiv preprint on graph isomorphism. It was downvoted, with a comment "Are this kind of discussions on-topic here? I think there are too many claims of P = NP, P ≠ NP, etc. in ArXiv and elsewhere.", but my own feeling is that it's useful to have a place to publicly discuss whether it's worthwhile to pay any serious attention to certain controversial preprints.
I guess my question for here is, should this exchange be that place?
Update (suresh): Please review and edit the proposed FAQ entry below, so we can add it to the FAQ and resolve this question.