This question came up in chat yesterday evening, but I think it would be good to have it down here.
Could I ask the current pro tem moderators to describe how long they spend on their moderating duties, and on what exactly moderating involves.
Moderators on other SE sites should feel free to comment too, but please make sure you make it clear that you are commenting on experience on another site. I imagine size and audience makes a difference to how much time moderating takes (the gaming site gets a heck of a lot more spam, for instance).