Normally I don't have too much to say, but having only recently begun to share things with the community this is in general relevant to me. 

There is no doubt that something has to be done because while I might be new to submitting free stuff I am a long time beneficiary of downloading them and I have seen the horrendous flooding of the area.  And since some folks seem sadly unwilling to police their own habits in this respect I would say this plan is as good a place as any to start in curbing the problem.

I personally wouldn't have any issue with it being limited to 1 upload and 1 approval per 24 hours, as this would logically guarantee that you didn't have a backlog problem.  But that is probably because, as a beginner, I'm a bit slow. When I upload one, it takes me a day and sometimes two (depending on what I am working on) to finish, test and package another one for upload.  In fairness to those who have backlogs of unposted items and those who are quicker than I am you should probably allow either two or three uploads every 24 hours so these folks aren't playing a clock watching game just to share something with the community.

Just my two cents worth which in these inflationary times is probably worth about half a cent. :)