[James Cridland]

Me too, I think "moderate users" is great.

And now, an extra bit of code.

To make posts from all new users to be "under moderation", you can do the following...

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Open register.php
Search for the following
// activate account
$DB_site->query("UPDATE user SET usergroupid=2 WHERE userid='$u'");

Replace the usergroupid (2) with the new, Under Moderation, user group you've just made.

You might also wish to replace your redirect_postthanks template to let users know that "your post may not appear immediately".
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You're free to add this to the documentation of the main hack.