I'm not saying I'd do a better job than them, and for the most part I think they both do a good job, but we need some fresh blood in the moderation department. Both hilariousandco and mprep have been mods during my entire 7+ years on the forum. I can't help but think that, with the exception of dealing with giveaways, moderation is loosening to the point where it is encouraging a new wave of spammers on the forum.
A new global mod wouldn't be such a bad idea as they could pick up slack in other areas without a moderator, like P&S. I really can't think of a downside to adding new blood to the administration... things seem a bit stale up there.
I'm not against more mods and certainly think there's a few people who have earned a place on staff with their report counts but I think it's a lack of reports that is the main issue. There's far too much spam but no real incentive for users to report it so staff aren't going to go out of their way to find spam to remove. I'm not sure how much tinkering theymos wants to do with this current software but I still think we should considering adding those reporter badges that come with a few small perks as I certainly think that would help boost reports and clean up spam.
Maybe it would be best to add some dedicated sub board mods for the boards that are lacking one but the P&S section is going to be a notoriously difficult board to mod and it's probably one where it's just best left up to globals rather than have someone who is going to be a focal point to put the blame on or attack when something in there doesn't go their way. Blatant spam can and should obviously be removed but everything else should probably be left alone and people can either argue why they disagree or just ignore that person if they're too annoying or crossing the line of decency/sanity.