Do we need mods?

Complain about the moderation system, and what do you know? You're a mod next!
So, is moderation good for a mailing list? In theory, its against free speech, so it can't be. But then, spamming and virus attacks leave us no choice.
So, should the solution be total and absolute moderation? Not in my opinion. I believe a more useful approach would be to allow certain trusted members, to post their messages through unmoderated. Got something to say about it? Say it!