hrm...
there are 2 settings 'EMAIL_VERIFICATION' and 'NEW_USER_MODERATION'
1st one is whether the new user needs to verify their email. 2nd one is whether or not the new users get placed in a queue to be accepted or declined.
as i see it.
and currently the question asked of the admin in their preferences is if they want to be notified on any new user registration. there is really noting about whether an approval is required.
so if you want to take it to the extreme, the admin gets emails if he likes them and those emails are either : 'hey a new user signed up' or 'hey a new user signed up and needs you to approve the poor bashtid'
no ?
