I recommend moving Auto approval of listings and Auto approval of edited listings from AP / Basic settings / Listings to AP / Monetization / Listing packages.
Admin, can decide about auto approval of listings for Free and any Featured listing packages separately.
Also a new field for admin to define an interval time to approve a listing is useful.
For example:
Free listings need admin approval and will be active immediately (or after a few minutes) after approval.
Bronze listings do not need admin approval but will be active after 3 hours.
Silver listings do not need admin approval but will be active after 6 hours.
Gold listings do not need admin approval but will be active immediately.
All these for encourage users to use featured listings.