If you are going to allow that then you might as well allow private boards, which although I think they are a bad idea, will piss off a lot fewer people on an ongoing basis. If any moderator can delete anything they feel like for any reason, you are likely to get some serious bashing and flaming across other threads. This place should not become a series of small fiefdoms controlled by the moderators. It is easy to say that you will let the moderator and poster "settle differences," but that is simply not realistic when one has the power to eliminate the other from the discussion.
Here is a practical problem: someone pays or has paid (lifetime) for premium features, which includes posting on premium boards. Of course, under the "moderator has full control theory," they may not be able to do so because the moderator will be allowed to delete every post of theirs on a given thread just because they do not like the person posting.
The terms of use should apply to all threads equally. If a post violates it, it gets toasted. If it does not, it stays. A very simple concept that seems to have gotten twisted somewhere along the way. If a moderator cannot follow the TOU, then they should not be a moderator. Folks who file frivolous TOU complaints ought to pay the consequences for those just as those who violate the TOU do so as well.
You head down the proverbial slippery slope when you empower people to make content decisions for the site on any basis different from objective, content neutral terms of use.
Troy
Those who shoot from the hip usually end up just shooting themselves.
Plan the grub and grub the plan.
Where is the party tonight? Who is bringng the drinks?