It really doesn't need solid moderating though. conversation comes and goes and nothing stays real visible for too long. I agree with the op. They are great for quick tips and advice or when help is needed as soon as possible. Its hard to compare to the conversation that can be had and the information that exchanges hands in a live chat. Plus In a forum such as this I don't really think controversy (among users) will be real prevalent to truly need constant moderation in a chat box.
A few other forums I'm on have them and they seem to operate relatively smooth. Just my input