Now, when user is signed up, they will be send a mail with activation link, with out activation, user is able to login. Next version will have option for only verified account can login.

I have in admin settings - I have all enabled - approve, notify sign up, notify upload - however I am not getting any such admin emails.
Notify signup and Notify Upload will work now, if not check your mail server configuration, there will be some problem with your mail server or php mail function is not working on your server.