I just wanted to make this a bit more visible in case anyone else is wondering the same thing.
I decided to perform a BF experiment: what happens when you click on the "Report this post to a moderator" link at the bottom of a post?
Bottom line: the post is reported to a moderator. Pretty simple, huh?
The post I reported, along with more information about the reporting process, are in a test thread that I hijacked. Further details about the reporting process can be found in that thread: test
In retrospect, I should have created my own thread.
In the event that the link fails: the original thread was titled "test", and was posted by RoboCheme on Jan 11, 2009.