I like Option 2 a lot. The respective mods would have the required knowledge to confirm or reject runs without potentially having to put time into looking things up, asking other mods or making comparisons because they (most likely) know the category and possible issues well enough. The runners would know who to contact to get their questions answered for specific games and not run the risk of asking someone who's not well-versed in the game or category.

I also think that mods would be more active on the boards if they only moderated the games that they are interested in and know well and not the whole series. If there's ten other people who can moderate something, and some of them maybe better than oneself, it increases the chances of one thinking "eh, why would I bother? Someone else will do it for sure." That issue would be out of the way then.