I will work on a fix where all registered user with something like 50 posts and up don't have to go through the verification. Dunno when I will get to that though.
That would make it less painless for us plain users.
The advantage of doing it in this way is that it is sent to a list which can be seen by multiple team members.
If the submitted news gets displayed in a list, I take it that contact form does not just generate a mail, but also stores the submitted data in the db somewhere?
If that is the case, then it might make sense to open a filtered view of that (as in, the unprocessed items) to us registered users. That way, people can see what others have submitted, which might eliminate some of the double stuff you undoubtedly receive.
Just an idea.
EDIT: Though, on second thought, you might need a dedicated "submit news" form for that. You wouldn't want to give everyone access to what gets submitted through the "contact us" form.