Hesitation and experience would be my flaws at first.
I don't really understand the system of rule here to a T. Who gets bans for posting what, saying what, if I should or should not take action for this or that. Until I learned such things, my effectiveness as an administrator or moderator would be questionable and I wouldn't feel very comfortable watching over the forum. Though at the same time, it would depend on how laid-back Badspot is. If he didn't care about a few learning-mistakes, or didn't mind several questions on what I should do for one situation or another so that I could learn the deal before tackling it, I could probably handle it. If I was required to know everything from the get-go, it wouldn't work out at this time.
If I had the job, I would take it seriously. I have a mindset for such things, bias wouldn't be a problem, if rules are broken you get the boot, and time is something I typically always have. Complaints about my work wouldn't bother me unless I genuinely screwed up, reports would be taken cared of if I knew what to do.
Once I learned the deal and knew what to do, I could handle it. I would have to try to find out because I've never had any experience on a forum of this size before, feedback wouldn't hurt a learning experience either I would think.
