I agree with you that phpbb is a bit lacking. SMF does allow you the same powers with moderators as IPB such as the recycle bin you talk about.
Im very familar with it as i use it on 4 of my sites.
there is an option i can turn off to make it a public tracker.
I'd even be willing to make you guys your own tracker rather than use one that I have already set up.
public or private, your choice.