I've done a rewrite of the proposed guideline at
http://en.wikipedia.org/wiki/Wikipedia:Biographies_of_living_persons/temp
It's rewritten very much in the style of a quickly usable guideline - you should be able to get the whole idea from the intro, the rest is details.
I've also tried to greatly tighten the writing from the original, but it could do with more (e.g. the looong examples). Please hack away.
- d.