I've been a moderator on my own site (couple of million users but only a few hundred maximum online at any one time) for almost 10 years.
I felt really powerful for about 10 minutes and then it dawned on me that I have to sort out everyone else's rants but could seldom show my own frustrations and it became rather less glamorous (but still rewarding) rather quickly. It's not easy to keep your own opinions and emotions (and biases) from the moderating.
One rule I always stuck by (and no disrespect to the OP here - it's a totally unrelated site) was never to give moderation to anyone that asked for it. There was always a hidden reason for the request.
Just my 2 cents.