How do you find a moderator for your community? Do you pay moderators? Do you reward frequent posters with the title? How much power do you give mods?
Moderators can make for break a forum -- if they do their job good, they keep the site in order -- if they go on a power trip -- it will alienate (and scare away) members.
What do you do if a moderator is doing something you don't like, but they are also a frequent poster? :o