A few quick things to say:
The key to moderation is not moderation. It's a militant attention to detail and a meticulous application of the rules that would do the SS proud. You will not make friends. You will not be liked. Being a mod isn't supposed to be a popularity contest, or a way to protect your friends/allies, or a way to make yourself feel more important. It's supposed to be an unpleasant job you take on for the greater good of the community.
Can a mod post his own opinion on certain matters? Of course. But bear in mind that if you're posting on the flameboard in particular, you'd better be damn sure that you're not either a.) breaking the rules yourself, or b.) allowing the rules to be broken so that you can see what happens. You also can't lock threads that say things you don't want to hear, so long as they don't break any rules. For quite a while, there was the running joke that the easiest way to get a thread locked was to say something bad about Kaizen in it.
Flamebaiting is bad. Many people flamebait. But many people are so defensive and/or highly strung that they'll react to practically any comment as if it were flamebait, regardless of its actual nature.
Derailing is bad. MANY people derail. For a variety of reasons, some in ill-formed attempts at humor (which can be tolerated, within limits), some as part of a pathological inability to keep their dick in their pants when it comes to certain topics. Lavi and TDS, RoM and any attempt to characterize WoW as something other than a divine gift to the gamers of the world, Vang and, well, anything.
Actually, let me amend something. MOST derailing is bad. Occasionally, topics in the flameboard do get derailed into constructive conversations. It happens maybe once every few months that I've noticed, but it does happen. Ideally at that point either the topic will get renamed, split, or reorganized in some fashion. That rarely happens though.
Garka sleep now