OK, does not work. Here are the results:
UPDATE w3t_Posts SET B_Main='x' WHERE B_Main='x'
The first 'x' is going to be the main thread, the second 'x' is the thread you are merging into the first.
Doing this DOES work, but it has a side effect. Since every new thread has a B_Parent of '0' (to denote it is a new post and not a reply), you have not changed THAT piece.
So after merging you have TWO first posts. Effectively looking at the forum main page, you will still see both separate threads, but one will now show with all the replies under it, the other will show with NO replies.
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So to accomplish what you want to do, you have to run two separate UPDATE queries.
For example:
POST1 = Number 23
POST2 = Number 56
You want to take #56 and merge it into #23, effectivly clearing it as a "main" post, and having it and all its replies under the thread for post #23.
UPDATE w3t_Posts SET B_Main='23' WHERE B_Main='56'
UPDATE w3t_Posts SET B_Parent='23',B_Topic='0' WHERE B_Number='56'
Your REPLIES column will not update on the main page until someone makes a new post in the thread. I tested this and it worked for me.