i had a site go 'viral' and ended up with 300,000 users at one point.
threads did fine..
one thing that had to be dealt with though was the welcome PM that was sent to all those users.. it was a HUGE one with a TON of information and i saw no reason to duplicate it 300,000 times for each new user..
so that was modified a bit to cut down on the private messages tables..
other than that, no probs really...
sites with 2.5 million posts works fine, with a well tuned my.cnf