I'd definitely improve the site by allowing newly uploaded images that are "pending for approval" to still be visible and editable by the uploaders on their profile page under the "Uploads" section. This allows for tag edits in case you miss one or typo or something, and to keep track of ALL uploads while you wait for approval or denial.

Also, I'd rather have notifications for removed uploads (or denied approvals) explaining WHY and possibly when they were removed/denied. It really sucks to upload a bunch of new images thinking they're super high quality and perfect for the site, only to not be able to see them on your profile anymore, or access them even in the approval stage.