"Well, you beat me this week." it became "Well, you &*%$#%^ this week".

Once possible profanities have been identified, censoring is just one option. Another would be to list the possible profanities to the user, warn him that profanities are not allowed on the board and allow him to proceed without further editing. This would allow the moderators to delete the post without further warning. On a board that supports moderation, the post could even be withheld until approved by the moderators.