The 2013 moderator election for StackOverflow.com is a vivid example of why StackExchange has such great value to communities. Has anyone ever seen anything like this on a discussion forum? I haven’t. StackOverflow.com was the first community hosted by StackExchange, but any community with adequate interest could be doing the same kinds of things as what you see here in StackOverflow.
The election there starts on 8 March and ends on 12 March, so the page linked above may look different depending upon which day you check it. Also, if you’re not logged in to your SE account (and also if you haven’t started an account in the StackOverflow community), then you won’t see the number of votes each candidate currently has, and you won’t see up- and down-arrows to vote for any of the candidates, but you’ll at least see their self-descriptions.