Yes and no. I voted no, simply because that was the side I'm leaning more towards. However, I can understand that there are times when the admins need to be able to do whatever they want (e.g. mass account creation/spam flood) to fix something. However, I don't think they should be able to ban people on a whim (or rather, that they should do so).

So, to summarise: they should have unlimited power, but they should also know not to use it. Which I think accurately describes the current administration.

Edit: is it just me, or have 3 new members been banned today? Alright, own up, who put the troll in the water supply?