Making everyone a moderator might not be a bad idea! What I mean is: people should be capable of moderating themselves and not posting inappropiate material. However, surely there is a place for banal banter aswell as more intelligent discussion?
As far as the trolls are concerned, the solution is to just ignore them. It is usually pretty obvious who they are and if they are ignored (I admit I am guilty of replying to a couple in past), then hopefully they may get bored and move on.
Just a couple of my thoughts off the cuff...