Thanks, this all sounds like excellent advice. The moderator seems like a must, however, it will probably have to be myself and my partners in crime that deal with it at first. Just a $ issue.

The users are your best friend

Excellent point. I need to get out of the mode of ONLY thinking about how some user can abuse the program/system.

Allowing moderation can, in some circumstances, make you legally responsible for the things that are said on the site

Hummm, I could see that being the case and it's somewhat unnerving. However, does this imply the opposite if you do not have moderating? Yah, I know, get a lawyer. ;-)