If we get three fresh mods in, I'm sure they will moderate with a fiery passion, only to burn out after half a year ;-) So perhaps it's more appropriate to have more regular elections instead!
However, I'd rather not see people get burned out, so having a superfluous amount of mods might make the work easier on everyone. Especially with a nice overlap in time, we should be able to keep the site clean 24-hours a day and have mod flags taken care of nearly as soon as they pop up, reducing the load on everyone.
That way mods can even spend some time on... well non-moderating stuff! Like answering questions, editing awesome community-faqs and such. Because there's a reason the rep of the current mods has been nearly stagnant ever since becoming a mod!
While I know Jeff prefers to have a limited amount of captains on board, I have a feeling that most of the nominees are (still) here, because everyone agrees on how this site should function! And as long as there's a benevolent dictator to make final decisions, I think we'll be fine!
So yes, get us even more support!