Guild policy sections are usually filled with rules, required addons, and administrative things.  For how old WoW is I think those things are common sense, and SHOULD be common practice as long as the people within this guild have the same goals in mind.  So, I'll start with a brief explanation of my approach to the World of Warcraft, but primarily gaming in general.

I think that gaming is our generation's version of a bowling league, rec league softball, or golf outings.  It's a way for a generation of people that grew up with duck hunt and metroid to keep their minds sharp, and an excellet distraction from the woes of reality.  This is why I game.  I want to do it with excellence, and I want to do it with like-minded people that will do whatever it takes to be excellent at this skill with me.  My primary "policy" simply put, would be to surround myself with other people that want to succeed at their hobby as much as I do.  The rest of the rules, the addons, and the attendance are all byproducts of this mentality.

The job of guild leadership is neither to dictate the specifics, nor to micromanage the people they deem of the same mentality.  This guild's leadership will instead focus on finding these people that want to excel in their free time hobbies, and enable them to do that.  Our standard raiding mods are defined inside of our forums along with all the information and expectations of what will be required upon zoning into Bad Example 25 man raids.  We've been working at this for a good amount of time now and have brought together a diverse, focused, and consistent group of gamers.  We're always looking for more people that are capable of motivating themselves at the level necessary to succeed in their free time hobbies while maintaining focus on what is truly important about the time we spend away from them. 

-Mito