My personal opinions:
I think rep should be completely meaningless - just a nice little ornament on the site, and a fun way to compliment users on well-thought-out or high-quality/original posting. To attach anything beyond labels (e.g. "will become famous soon enough" from memory) would return rep to a similar level as post count racing.
Secondly, getDare averages about 500 users a day (much higher in peak periods). I have no understanding of why any mod would want to trawl 200 (or so) rep posts a day.
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...Tubas in the Moonlight...
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