I had interest in managing user-generated content for a very long time - ever since late 90's when me and my friends have set up an online discussion board. We used to run it off of an open-source message board and then switched to vBulletin. While vB is an excellent forum management software and has tons of features, it has its own drawbacks.
For every online community the ability of administrators to manage content makes or breaks the whole deal. On one hand, if you are too soft and forum rules are loose, all kind of trolls and spammers will creep in and ruin experience for everybody else. On the other hand, if you are too strict and rules are very rigid, interesting ideas and people who do not conform with majority or leadership will certainly be discriminated against. Regular users seeing such injustice will either protest or leave.
There are may ways to manage user-generated content but Slashdot moderation system seems to be superior to all. So, a while back I decided to build a Drupal module to emulate it. There was an initial attempt a while back and then VotingAPI got a complete overhaul that broke the module.
VotingAPI got fairly stable now and I also had some time to spare. So I recently made another attempt and module seems to work fine this time around.
The module is called Slashcomments and you can find it attached to this post.