My Global Moderator status is basically the equivalent of a glorified janitor - pretty much all I can do is move/delete posts. I can't even get IPs.
I don't see why Badspot doesn't make you an administrator. Occasionally you'll mention that something seems ban-worthy and that you report to him, yet nothing seems to happen, but other times we'll have some jackass Self Delete-spamming the forums and if Badspot isn't on, it can only be suppressed. Still, he could make you an admin and ask you to only ban in extreme cases.