I visited the Colorado Division of Water Resources website a while back, and it looked like the gage used in the past to represent discharge at Bailey has been discontinued as of January 31 of this year. I doubt anyone noticed because the river was probably frozen. As far as Waterton Canyon goes, I suspect that there must be tributaries on the South Fork South Platte past the gage on Deckers that are contributing a sizeable amount of water or that the gage on Deckers is not working properly. Past visual observations of the North Fork South Platte above Waterton suggest that the discharge has been hovering around 150 cfs, so it can't be contributing much water. As for Waterton, kayakers tend to know when it's running high or low (it just feels a little more pushy). So the gage at Waterton must be reasonably accurate.
Since the gage typically used to represent the discharge at Bailey has been discontinued (I think, varify it), it would be great if the mountainbuzz staff could get rid of that gage on the flows section and replace it with a more representative gage like Grant or Conifer.