Moderators appear to be routinely deleting posts reported with irrelevant links or other nonsense. However some of the bots we're being plagued with here may be editing their posts after submitting something seemingly relevant. As far as I know, the relatively outdated SMF version this forum is currently using, doesn't yield any notifications when a post is edited. Therefor, even if a moderator approval was required for the first few posts, we might end up with the same results, because spam links can be quietly edited into their posts at any time later
Even worse, some of the spambot links may not display at all, unless the text is highlighted. I suspect the bots intent are to boost search engine rankings for their sites by spamming forums such as this with links to their sites. Please continue to report these sort of posts if you find any!
However I do think it would be worth a try to require approval for the first few posts, as well as trying a few other things such as adding a "captcha" input on the user registration form.