jinxed - 3:39 pm on May 26, 2012 (gmt 0)
Even if others have had positive/negative experiences with doing this, no two situations will ever be the same.
If you are pretty certain that this section of content is the cause of your problem, then your plan of moving the content to a sub-domain and no-indexing it from Google seems like a good plan.
Either way, what’s the harm in trying it? I suggest giving it a go and posting back your findings here in this thread.