Looking back on yesterday's changes, with a now clearer view on things I think we are better off without the system.
The key to it not affecting community life negatively is that it isn't taken too seriously. But if it isn't taken too seriously, then why should it affect community life positively? Ít's EITHER so important to people that they think twice and triple and quadruple before posting anything which would result in unpleasantly forced dealings with each other OR so unimportant that it's pretty much neglected. At its best, it doesn't change or make better a thing.
What I'd propose to change about the system, so that it works, is the following:
We need to keep the reputation system strictly positive. You would be able to give someone a point, but you couldn't take one away. That way, there'll be no hating, only love - kind of like in facebook (there's a reason Mr. Zuckerberg doesn't implement a dislike button). With all the friendliness of it there'll still be different reputation scores, though, and there'd be some real motivation to write good posts (because you'll get points). The system would be a lot less random. I mean, the option to downrate people just for fun would be gone. You could only uprate for fun, but then, who would complain about this?
Negative ratings are crap (excuse my language, please). With all-positive repution meters, you could STILL compare people. For example, let's say I'll have 20 points - Smeagol will have 50. You can clearly tell how's more popular, but there'll be motivation to make more and better posts and in turn get more points, rising in ranking.
However, how should a rating of -32 be any motivational? That's just asocial to the holder and certainly no motivation. There'll always be sillyheads who downrate and downrate and downrate for no apparent reason, just like on youtube. Ever seen a video, however perfect and great and brilliant it is, without any people disliking it for no reason whatsoever?
We need some POSITIVITY! Mods and Admins please consider my suggestion.

-pacific