I'd consider 7 hours pretty quick for the moderators on these forums, personally. I use to never post in any of the general discussion forums, strictly game specific forums. They would be flooded with spam and at times, would take days for someone to come and clean it up. At one point on the old forums there was also an original xbox forum that never had any posts, and a certain group of individuals used it for general off topic discussion for quite a while. I reported it numerous times, and it was never looked at for months. Finally, I looked one day, and someone had locked one thread. If they had taken any time they would have looked in the forum as a whole and locked all of threads, not just the one that was reported. I've also seen mods here permaban the wrong individual for ban dodging, he remains banned as he can't prove otherwise. I know for a fact he wasn't doing what they claimed. I was the person reporting in both of these cases, but this only shows that they read the subject matter of the report and that's the extent of it. They don't pay attention to what they are doing, and they definitely do skip some reports.
I generally don't complain about the moderators, but when they say they inspect everything and read every report when it's completely obvious that they don't, that's when I start to have a problem. Gotten into it with a few certain individuals on the subject and it always ends the same way. Once you start pointing out obvious breakage of the rules that you have reported, they just quit replying.
Not claiming to be perfect, either. Deserved suspensions when I first started, but when I finally did receive one, I had completely changed and did not deserve it. Apparently a certain childish moderator decided to suspend me because he didn't like what I had to say, so he went back through all of my posts and found a reason to suspend me. That's my biggest problem with the mods/mvps on this site, certain people just act childish rather then acting like adults about certain situations. After some of the mods/mvps I've dealt with over the years, I just quit caring. Especially after some of the choices I've seen them make for mods, which I knew in advance wouldn't last, that really did not help matters either.