I'll attempt to explain some of the jargon.

The part about "proud to call ourselves /v/irgins and /k/ommandos" refers to the nicknames that people on various boards (topic-specific forums within 4chan) have invented to call themselves, as a kind of in-joke. For example, "/v/" is shorthand for the video games board (because its URL is http://boards.4chan.org/v/), so people on the board extend that and call themselves "/v/irgins" (because that's much more amusing than "/v/ideogamers").

When he says "sage is now invisible", "sage" means the feature that lets you write a comment that doesn't bump that thread to the top of the board. People use "sage" in order to write comments like "this post is terrible" without promoting that post. See http://www.urbandictionary.com/define.php?term=sage or http://knowyourmeme.com/memes/sage for more explanation.

"/q/ will be retired and replaced" - this was a board that moot had set up for talking about 4chan itself (asking him questions, providing feedback, etc).

"Post timers" prevent you from writing tons of comments in rapid sequence, which is usually spammy/abusive behavior.