the help guide says's it's in Registration Settings>Basic Options
Option does not appear there.

Can I no longer globally set the Moderation Queue?!!

PS. I'm running version 7.4.1

CP > Registration Settings > Basic Options > Enable Registration Queue?

Is that what you mean?

No, Post Queue (Every post must be approved.)

It looks like it was moved into each and every forum and there is no longer a global setting

So it also appears to be broken.
When I set the permission for the forum to be

my forum » Control Panel » Forum Permissions:: All new posts are moderated

I still get random posts from players. maybe 50% end up in the control panel awaiting approval, and 50% sneak through

very frustrating.. I tried to "Clear the cache" hoping that would help and it didn't.

Any thoughts?

Did you put a 1 on all groups that you want to moderate.
If 50% can post I would thing they are in a group you missed in a forum.

And yes you need to change that setting in each forum also.

Thanks Ruben, I bet that's it

We created a bunch of 'groups' for private forums and I think the permissions are over lapping.

This is a little late but if you goto Control Panel » Group Management Select Forum permissions by group. Under edit permissions select forum. Then go thru each group and check All new posts are moderated it will list all the forums that group has permission for.
It may be quicker for you.