I think this seems like a basically fine policy.
I will also say that my own experience being a moderator is firmly in agreement with http://lesswrong.com/lw/c1/wellkept_gardens_die_by_pacifism/ , and thus in opposition to those who would rather see a totally hands-off approach to moderation.
http://wiki.lesswrong.com/wiki/Deletion_policy
This is my attempt to codify the informal rules I've been working by.
I'll leave this post up for a bit, but strongly suspect that it will have to be deleted not too long thereafter. I haven't been particularly encouraged to try responding to comments, either. Nonetheless, if there's something I missed, let me know.