I like the idea of a kind of iTines rating spin off thing. Not the reviews, just the bit where you can click "Agree" or "Disagree."
Maybe a "Thanks" and a "No Thanks" and then a total beside it that can be positive or negative.
If the total is +7, then: "7 people appreciated this post."
If the total is -7, then: "7 people didn't like this post."
I would keep the voting anonymous, though, otherwise it'll just be fake. Although, I think maybe a user-specific grand total underneath our names might serve the purpose the previous rep system did. Actually, I think this would solve everything... it would allow the community the ability to reward good posting habits, while still flagging poor posting habits. It would also keep it off the Mod Team's shoulders so it won't be a burden.
I have no clue how difficult it would be to install... there must be a bbcode plugin already for this, I'm sure.
Edit: I also appreciate the work Photon is doing on this. Others too, if there is more than just him. CP is easily the best run forum I've even visited.