[quote=@BBeast]
If you do grant GMs the power over posts in their thread (something which could possibly be abused), then a system which puts the post in a large hider would be safest, for it allows the post to be hidden from view but still available to be read if need be. But a Report button to call a mod to a particular post would be a good idea too. How about give the mods the power to put posts in large hiders? Another tool in their toolbox.
[/quote]

Hiders are BBCode. Put the post in a hider, and I can just go in and edit my post to remove it. 

Take away my edit powers, you say? That also removes the right for someone to have control over their own posts, it's effectively deleted them (as you can find most deleted posts anyways through cached versions at Google or via the Wayback machine).