Jack,
Perhaps we're putting a bit too much emphasis on the moderator role.  In the time I've been on this board, the former moderators were pretty light-handed.  Yes there is concern that we could end up with a heavy-handed moderator that may stifle both forums, but that's what makes for a good revolt.  I'm not so big on democracy.  Let's face it, most of us run little dictatorships.  Leave it to a revolution to unseat a heavy-handed dictator.  There's also peer pressure.

In the past we had one moderator per forum.  Now with two moderators per forum, one has more free time to co-moderate a second forum.  Instead of fretting over what could happen, let's just go easy on the rules and see what happens.  We can always give them the boot if they get out of hand.
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Give a man a fish and he will be back for more. Slap him with a fish and he will go away forever.