When my forum first started, new users (by invite only) were able to post without their posts having to be approved. These were and are my settings under admin/settings/posting
- Approve post count: 0
(the amount of posts from a new or basic user that must be approved) - Approve unless trust level: 0: new user
(Posts for users below this trust level must be approved) - Approve new topics unless trust level: 0: new user
(New topics for users below this trust level must be approved)
Just a note that causes a little confusion for the last two settings are the settings say “Approve … unless trust level: 0: new user” but the description below both settings says “… users below this trust level…” will need to have posts/new topics approved. One can’t get any lower than trust level “0”. 
@deucesrgood, As far as getting a reason listed for each post needing approval, this is something better explain by a team member. A similar discussion was held some time ago about flagged posts needing review and having different reasons shown.