I think a "mini-mod" system would be a great thing to implement. The forums that I use are not effected by the approval system, as we do not get the spammers and flamers the other forums do, but I spend alot of time looking through other forums and I am disappointed to see so many posts all approved at the same time. Granting a few select individuals the ability to approve posts would do wonders for the entire site. However, I suggest that there be limitations.
1. Mods or Op can specify certain peoples posts can only be approved by an actual mod, as they have a habit of inappropriate posting.
2. Mini-mods should only be able to approve in certain forums. Different forums have different things that are acceptable.
3. They must have no demerits or bans, and must have a minimum number of posts, all able to be understood.
That's just my opinion. Not that my opinion matters, but I like to share it anyways :)
TeT