Agree, but I would think there would need to be more than one for it to be effective. Andante would make an excellent moderator. Still, there would need to be more. Also whatever said "moderator" would need to set aside any personal idiosyncrasies or bias and would need to be moderated as well. That being one of the reasons why it would be important to have more than one. While monitoring shoutbox content, having more than just one would help to keep others in check and make sure that there is no monopolization from one sole moderator.
There is also the issue of what type of etiquette should be enforced and how. I don't like censorship, but I don't like to see conflict and others being hurt. Joking is one thing, but I've seen quite a few hurtful sarcastic remarks in many forum threads AND the shout box. As far as language, I don't know how to approach enforcing that, other than laying down some sort of "shout box language guidelines" (not to be crossed). Perhaps having a moderator simply present and known would prevent some of the spam, dragon eggs, language etc. I don't think banning from the shoutbox should be dealt out prolifically unless of course there is a clear case of malicious trolling. As far as having guests posting these dragon eggs and whatnot, maybe we'll need to give them the benefit of the doubt that they just don't know there is a separate thread just for that and inform them of this, instead of instantly verbally attacking them. IF there are to be rules or guidelines for the shoutbox to be implemented, then they need to be discussed (as we basically are now) and clearly laid out.