I'll throw my 2 cents in on this for whatever its worth.
I have not participated in a swap on this forum either publicly or privately--yet. The couple that I was looking at either got filled before I could commit to it, or life's other commitments precluded me from joining. There will be other opportunities I'm sure.
I'm fully aware that there were some problems in the past and thus the unfortunate need to keep moderator involvement on them. I guess these private swaps could be a viable option, but wouldn't it also be possible for the host to collect the flies and vanish?
In my mind, it makes the most sense to me to have a prospective host PM a Mod with a request to host. The mods can approve or deny the request based on track record here or whatever other critera needs to be taken into account. Maybe even phone, email and mailing address should be provided? If approved, then the swap can be posted in the swap forum and we proceed with the swap. What I like about his approach is that first, the mods are aware of the situation. Secondly, it removes the "burden" from a select few individuals to host but keeps the swaps going. I have hosted on other forums and know the work involved. Some people enjoy that, but there is effort involved for sure.
Personally, I tie year round and sometimes during the dog days of summer, I'm at my bench wishing I could get out to trout fish or go for steelies and I'm preparing for upcoming seasons. Sometimes I'm working on smallmouth patterns or other things that strike my fancy.
Just some thoughts, ultimately I'm OK either way. Lord knows I have more than enough flies already