Content Moderation Feature Request

I am looking for a module that can enable content moderation for the selected content types among users. That is, content posted by one user get approved by group of other users (authenticated users) just as it is on http://www.n4g.com.

One person register at the site, he posts content, content enters moderation queue which is accessible by all the authenticated users along with admin, those authenticated users interested in approving content should approve it, content get promoted to the front page then. There should be a minimum number of approvals before the content gets approved and there should be the facility to report the content even so that it can be deleted. Until approved, content should remain unpublished.

I searched all the drupal modules database but couldn't find the module that can do this. However I found modr8 but it seems to be restricted to admin only and I don't think if it could provide the functionality I am looking for.

Another module that I found was OG Node Approval which is for Organic Groups only. I don't want to use OG but OG Node Approval module seems to meet most of my requirements.

However I am very much optimistic about modr8 because I think with few tweaks it can do what I am looking for. Also if there could be any module for Dupal 6.9 just like OG Node Approval but without organic groups.