From Wikipedia: "There are over 67,000 subreddits to peruse, with the default set being (as of October 18, 2011[4])." I could not find a specific number for the admin staff, but given the fact that wiki lists 11 staff members for reddit that number can not be particularly high; in fact the reddit admins steam group has 6 members. I sincerely doubt that anyone is capable of filtering 10,000 subreddits every day in search of offensive material.

Finally, even if somehow reddit manages to completely and utterly block all things they deem to be CP related, these people will just move to another, probably harder to track venue. All in all, this entire move is rather pointless action in response to people that want the feelgood sensation of "Protecting the Children."