We've already had some reports that have occured where in my oppinion the post should not have been reported. The people doing the reporting legitimatly believed they should be reported, but basically people occasionally are reporting things where they get into a flame war with someone, are losing, then decide to report the post to make it go away.
As is, the system sends a broadcast to all admins whenever a post is reported, so they get handled pretty quickly as we usually have someone online somewhere on the site, at least during normal hours.