If the admin cared and actually wanted a solution rather than just bitch and moan until we all piss off (they can pretend they aren't telling us to do so, but clearly they are) they could get off their lazy buttocks and install any of the copious mods available for SMF, such as Good Post/Bad Post, auto anti spam, bot protect etc. They either chose not to give a shit to this method, or are too incompetent. Personally based on using an out date SMF, and not changing the branding etc, my money goes with incompetent.
Give users the power to do the moderation and we will see what people actually want. I pity to foolish admin who thinks any sized army can moderate a modern forum. This is not sparta (they may be the downy hunchback however..)
Even though this forum is using an older version of SMF, theymos has added a lot of aditonal coding in the backend to provide security. He has fixed numerous security vulnerabilities, added the Trust system, the activity counter and various small snipets of codes here and there. Installing SMF mods only brings more possible exploits and overall decreases forum security. Updating to the new SMF version would mean that all of the old issues have to be recoded for the new version and tons of effort would have to be dedicated towards finding seurity issues only present in the new version.
BTW, if you didn't now, there is a new forum software in the works:
https://bitcointalk.org/index.php?board=167.0. Regarding moderation by users: there is a "Report to moderator" link on every post and thread and the fact that only a dozen or so users report actual spam threads and posts, has shown that not all people aren keen on moderating and/or know what is considered spam.