To state the obvious, I think it's a matter of taste. Clearly, a series of hash marks in the middle of a function is obnoxious. I personally find hash marks as delimiters of sections of code to be eyesores also. If you're working with a file that's thousands of lines long, and you're breaking it up with comments, maybe you should be breaking it up into separate files. Even in a small file, I practically never scan through it in such a way that obvious breaks would be useful to me. I'm constantly searching (C-s in Emacs!) for what I'm looking for.

What I'd suggest is just to make yourself as consistent as possible. That way some maintenance programmer down the road will have an easy time reformatting your comments to taste. If your comments that I can't stand are regular enough, then I can probably take care of that in just a few minutes.