Let my add my voice to those who feel that this is not a good permanent solution. It would be nice if people posting wank could take the initiative to A) wait for actual wank to occur, and B) put together coherent posts, but whether or not they do so, it should their choice. Pre-emptive moderation may have a chilling effect. And of course, there will be technical problems with back-ups and over-worked mods. (And as wickedcherub says a post or two above this, some of the fun of wank is the spontenaity.)

Like wankprophet, I'm inclined to think that a few more and more active mods keeping an eye out for blatant trolling and rule violations would be a better long-term solution than this.