I'm confused. I've helped a colleague set up a list with the following
settings:

SEND= private         
EDITOR= owneraddress, (listname)
Default-options= Repro, nomime, subjecthdr, review
Owner= Owneraddress (Owner name)

She says it does what she wants: new members' posts are sent to her for
review until she changes them to noreview status and regular members may
post willy-nilly. It seems to me she should have:
SEND= Editor       
EDITOR= owneraddress, (listname)
Default-options= Repro, nomime, subjecthdr, review
Owner= Owneraddress (Owner name)

to have that effect. What she has seems to me would allow any member to
post and people under review would have their posts sent to all members
of the list because they are listed as editors. 

What am I missing?