I think the idea is a good one. Think about it. How many times do we see complaints about pop-ups in freestuff? Or pages where you have to "join" before you can even see the downloads? And then there's that guy who uploaded a file that when downloaded, gave access to your hard drive? This will solve all that. And anything that looks suspicious, such as a Daz texture, can be spotted quicker. It won't guarantee that something won't slip by but it's something at least.
As for the concern over the time it may take to be approved, it's a free item. How important is it that it's up the day you upload or the next day?

Anyway, I support the effort.

...... Kendra