If you already come on the forum semi-regularly it isn't really any more time commitment. I spend maybe 5 minutes of every day with my 'moderator hat' on, otherwise I just post like any other poster. Its not like you have to sit there for 6 hours a day refreshing the page with your ban hammer lifted over your head. You just do what you normally do and if you see anything (which you don't often really) then you deal with it.
well - sounds tempting but i was too inactive in the last few months (postcounter wise^^). But maybe i apply for the next wave, when i more active again :P