I kind of like that idea Octo, except I'd be worried it could be taken advantage of (people voting multiple times from different computers or something).
I don't care about threads with voting, doing the whole round 1-2-3(?) thing sounds alright. Extra rounds means you don't need to worry if your second choice isn't in second place because you can vote for them next time around.
I guess I still prefer individual voting threads for individual candidates because I don't just want to see how many people say yes, and yes over the other candidates, I want to see the people who say 'no I don't feel comfortable with this person having mod powers'. What I'd worry about in the poll with everyone on it thing is 'so-and-so is in the lead, and I really don't feel like they should be a mod, so I'll vote for [blank] because they wouldn't be as bad but I also don't really support them as a mod'.
I don't see it as a 'most votes [yes] wins' thing either, but more of a 'lets look at these results' and then staff make the final decision based on these results.
Voting would obviously be anonymus, if poll results can be hidden until you've voted as well that would also be preferrable (ya you could ask people who have voted but if you'll put that much effort into lol oh well).