Head on!
This is exactly the question I wanted to put to the community when I opened the thread. Should games and literature fandom try to share the same terms or not? In my everyday gaming it is fairly inconsequential what the definitions of high and low fantasy are. I don't really care a lot about if Sword and Sorcery is high or low fantasy. But it is good to have a common language to describe what we do. I think ENworld is a god place to do so and even if we don't agree, at least we see each others points.
I think that to do more than that, to really try and define what these terms mean to gamers, would take a moderated debate face-to-face at a series of conventions. I don't think gamers are interested enough in the terminology to do that, and as long as we are not, the literary terms will remain the "offical" terms. Because fans of literature are more interested and engaged in these terms than gamers are.