I'm guessing the moderators can sometimes end up with massive queues of flags and alerts that they need to go through on a daily basis and I was thinking that tag based moderation could be an interesting concept to look at.
I'm thinking that a Tag Moderator would have limited moderation abilities for any questions that have been tagged with a tag that they have been designated as a moderator for, they would be able to close questions, move non-answers to comments, edit questions/answers etc.
Deciding who a tag moderator could be would be one of the important discussion topics, should it be once you get over a certain number of rep in a particular tag or could it be voted on, people over a certain rep, for example more then 200, would be up for election and could be voted on by people who use the tag, ie you need over 25 rep in that tag to vote.
Obviously there is also the potential for abuse, somebody with enough rep to retag a question could retag something so it falls into their moderation realm, make changes and then retag it back. Some of this could be worked arounf by only allowing moderation based on original tags unless the retagger was a site moderator.
I'd be interested in seeing a discussion on this before I put it in as a feature request. What other pros and cons do you see etc.