I'm agin' it.
The only situations that would demand really immediate action are spamfests like the current zeergoth thing, and those won't happen often, if only because EB is a low-traffic forum without much membership turnover.
More mods inevitably mean more possibilities for intra-leadership conflict on a forum, which is always a pain. I'd rather endure one of these episodes every three months than bloat the number of users with the ability to ban and/or edit other people's posts.