the only time that i have ever really enjoyed being in a guild, was when game progression/goals weren't decided by being in them. i played asheron's call for years, and the guild system was totally different. it was actually more like being in a gang, to be honest. your guild tag decided who you would attack and wouldn't attack, and breaking the rules had repurcussions. this is in fact game drama, but it was "intentional." you could progress though the entire game on your own, or with all of your friends. didn't really matter either way.
the only guild that i have really enjoyed in wow was with real life friends. we didn't progress that far, but it was more fun and you didn't have to worry about being betrayed by your friendly guildmates. there are just too many opportunities for faceless morons to screw you over for purple pixels in raid guilds.