I do not feel there is over-moderation (and thanks, moderators, for doing a great job), at least compared to some other IBB's I frequent. There may indeed be more moderation in comparison with two years ago, but I wouldn't know first-hand.
Sorry if I'm too blunt here, but lately, I find FT is becoming less fun, but I don't know why. Maybe it's ME, since I am not traveling nearly as much as I used to. But it is certainly NOT because of over-moderation.
I guess I'm devoting a lot more time to other pursuits these days, and frankly, I'm really enjoying those pursuits.