+1 / -1 doesn't solve anything alone. First off, simply calculating that way is broken. Exerpt from Evan Miller (one of the reddit guys)
"Score = (Positive ratings) - (Negative ratings)
Why it is wrong: Suppose one item has 600 positive ratings and 400 negative ratings: 60% positive. Suppose item two has 5,500 positive ratings and 4,500 negative ratings: 55% positive. This algorithm puts item two (score = 1000, but only 55% positive) above item one (score = 200, and 60% positive). WRONG."
So without processing +1/-1 properly, you still get totally skewed results.
The main issue here is the point of the Karma system is to score a "Good Newschoolers member"
This makes the formula so much more infinitely complex than simple up and down. So its wrong to think that a new voting system will fix everything. Rather, likely more of the issue is in the time expiry of the actions you've taken.
Sure you can't keep giving others Karma. The reason is that if you could, you could just make accounts all day long with throwaway hotmail accounts and rate yourself to the heavens. We had to take into account this... the Xchange counts for a LOT of your score, but it is very difficult to raise or lower. Its a floating calculation which as more people like you overall, you go up. That is the key - one person can not keep assigning you more and more Karma. If they could... even without making new accounts you and your buddy could just sit there for a month and a half straight assigning each other more and more Karma.
The top 100 list was voted to be extremely accurate when we first made it. Sure its annoying to see so many Orange names on there... but you guys are the ones who rate them so high and check out what they do.
Generally if someone is extremely helpful in the forums and has a low Karma score... this is because they don't contribute in any other ways. There's weight to posting content, rating content, making reviews, blog posts... etc.
What we need to do is overhaul the calculation. Sure having more rating and such on posts in the forums will be fantastic, but we aren't capable of adding that in immediately. We could make some tweaks to what is currently there, as well as add some more strict point loss for inactivity.
What you guys should tell us is what YOU think is a good NSer. Do pick through the top 100 list and come up with reasons why you think those users no longer belong there. Think philisophically about what would make the best all-around user of this site.
Finally, having separately sorted lists won't be a big deal either. We could have a list that is blue names only type deal.