The most difficult trail in my DV book is Echo Pass, in the very eastern part of the Valley. It is rated V - difficult. But I've never been on that trail myself yet.

There are plenty of trails rated III - IV. For me, IV is more than easy, it is moderate on my scale.

"Moderate" trails are kind of elusive species. This is a very thin, almost nonexistent boundary between "I can do this" (easy) and "I doubt that I can do this" (difficult). For each person, this boundary is pushed to a different degree. When Ray is saying "moderate", I really do not know what is he meaning.