Report-Bad-Post works.
In forums that are moderated, the messages are sent to all moderators of the forum.
In forums that are not moderated, the messages are now (recent change) sent to the designated senior moderators.
As far as messages that I've received, I try to respond to them and I apologize if there have been times that I've just clicked the link to the thread provided, dealt with the issue, but not closed the loop with the member reporting the thread. There are times when I might check in between meetings, or right before going out, and I have the moment to address the problem but fail to thank the member.
When I disagree with the report a post, I try to write back to the member and explain my thinking. And I apologize if there are times when I fail to do that.