I don't know if it makes me a bad moderator or such, but similar to Doom, all of my "report" messages from the forums I moderate on go into one folder that just gets dumped once a month or so. This doesn't mean you shouldn't report the posts though!
The forum is one of the first things I check when I get on the computer - so anything that's been reported, I make sure to clear it out (along with anything else I notice). Then, if I'm online and get a e-mail pop-up, I swing by and get it ASAP.