When forum moderators are strict, users complain that they abuse their authority. When forum moderators are lenient, users complain that they no longer give a crap about the community.
I'm sure you're all familiar with the "[insert topic] For Dummies" books. Imagine that someone has asked you to contribute to a "Forum Moderation For Dummies" book. What kind of advice would you put in there to help shape your idea of a perfect forum moderator?
This is only meant as a bit of fun but I still think it might be interesting to hear your opinions on the subject.