While admin activation isn't necisarily (sp) a bad thing, it took me a while to get my account activated, and it was also trouble contacting any of the staff. I asked SSJ-Sonic to help me which worked, but it came to my mind that other users will probally just give up before their account gets activated.
While I'm no expert on this, it may be better to install a lot of bot blocking software instead so that real users can get in.
If no new people can get on, the site won't do too well.
So I'm suggesting to do something about this if at all possible.