I agree. One of the boards I used to frequent had it. They finally ditched it, because of all the troubles.
One case I remember, was Member#1 getting dinged by Member#2, for some unknown reason. So the moderator gave M1 a prop, and M2 a ding, to even it out. Then M2 was angry, because he felt M1 deserved to be dinged. It wasn't long after that, that the rep system was scrapped.
There were threads started by members who thought they were getting hosed on props, and dinged unfairly. Basically, all it did was detract from the basic function of the board, and create an opportunity for more drama.
IMHO, It would be entirely counter-productive, given the reconstruction of The Battlegrounds/The Refinery, and the clarification on that subject, by the managment.
Oh, no! There I go giving my opinion again.