Having at least a rudimentary knowledge of the wonderful world of technology, I sort of have an idea on just how much Newgrounds costs the Fulps that Be.
While I personally think it's quite cool that any user can submit any Flash (generally under 5 MB with very few exceptions) to the Portal, some users definitely abuse this privilege.
Yes, I say privilege, because being able to showcase a Flash video to thousands of people with no cost to you is one hell of a bargain. We all know people who abuse this. They clog the Portal with garbage, but due to who they are, their videos stay on the Portal, while people submit what I'll loosely term as "reviews".
I think a few people - could be you guys, could be the neighborhood monkey, could be whoever - should more closely monitor what's submitted to the Portal and remove videos that do not belong there. While that limits the power of the people who view it just a bit, as one of them, I can say that voters should be mature enough to vote honestly on submissions. We all know what sucks, and we should vote accordingly, regardless of who made the Flash. Another way of controlling the flood of crap would be to prevent an IP from submitting any more videos if so many get Blammed. Say, three strikes and you're out or something like that.
You could kill multiple birds with one stone this way. First, by removing videos that do not deserve to be there, you could conserve some bandwidth: I know bandwidth isn't cheap, and I think it's amazing you guys still don't charge anything for Newgrounds. I think it would also raise Newgrounds's credibility. Some really amazing works make it onto this site, and I think better "crap control" would give people more incentive to make quality Flash. It's one thing to want to cater to everyone, but I think NG could stand a little more maturity from its user base as a whole.
This wouldn't solve everything, but it's a start.
I'm sorry for how long this is :P