OK, here's the thing. There are those settings, and then there's also a per-thread setting. What has probably happened is that you changed your email preferences in your profile after you had already been subscribed to certain threads. Those threads are still marked as "send me an email when anything happens". Which is a PITA.

There are two ways to deal with this.

1. You click here to list your watched threads: and then you click "Unwatch" at the top of each. If you still want to watch the thread without emails, click on "Watch" again and it will give you the option to do so with or without emails.
2. You ask me nicely and I can do this for you directly in the database. You have 25 watched threads, 24 of which are sending you emails, so that would be the less painful option for you and will only take me a couple of minutes. Just give me the go-ahead and I'll do it.

If anyone else wants me to do the same for them, let me know here.