Among our clients, the number that moderate versus post-moderate content is about even. The decision to moderate content should be based on input from your management team.
Most often, we see sites set content to auto-approval during breaking weather or news events. The site will then switch back to complete moderation after the event is over. To set the site to auto-approval go to management > portal > check the "automatically approve uploaded content" > click save. Any submission received from that point forward will be approved.
Other features like "trusted senders" allow for additional moderation options. When users are marked as "trusted' their submission will be automatically approved. That feature can be enabled by accessing management > portal > click "automatically approve content from trusted senders" > click save. Then go to management > users > find the desired users > click the "trusted" checkbox and then "save"