So, just to be clear, it DOES state "first post of thread moderated" is the "first thread" not moderated but then the first post after the thread is moderated, or is the initial thread moderated - then any post there after is not moderated. Sorry, just trying to be sure.
Ideally it would be great to have a drop down with the forum posted as the default option. That way you can view which forum it was posted in and easily change/move the thread if it's in the wrong section.
Also the ability to edit the prefix (if any) would also be great.