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This is a feature request.

I would like to have the ability to make a post, then select a template for it on how I want the content displayed. With this method, you could have "Blog Post Templates", "Review Post Templates", "Gallery Post Templates", Wiki Post Templates", etc... In addition, allow the admin to choose which post-templates are allowed for user's on a board to board basis.

Welcome around, Xarcell!

Apologies in advance for keeping this reply short. You're touching here an essential issue for Elk: content is content, and should be displayed in any way possible, or used/sent/exported in any other (suitable) application.
We're doing that in a slightly different sense, even with the post-by-email integration: people should be able to sit in front of their email reader, and read and write their wished content for the forum.

As far as blog is concerned: IMHO this is more a matter of display. So templates for a blog-like view of a post, of a set of posts, of a board. Elk doesn't have templates for a blog view, but if you want, feel free to add them. We need a blog on the site, you can have it tested live anytime.
The preferred way is to use git and github for it. We're happy to assist you if you may need more information than already set up, in the repositories themselves (readme and contribute files) or on the github wiki.

As far as wiki is concerned, that's different. It involves a wiki in the first place. Also format conversions of the content, since a wiki user doesn't use bbcode, but wiki syntax for their pages.

We have been working on the codebase, to make posts more 'detachable' from the specific forum actions that make or display them. Take a look at the direction of the code, and please feel free to ask on it, add to it or feedback on it. This goal you state here, content "bits" as flexible as possible, interchangeable and/or in different views, is a goal Elk is pursuing.