I've seen it used on other boards and for the most part it seems to work out. You can't negative rep someone over and over again, it has to be spread around. People generally seem to use it as gesture of thanks.
Not that anyone persons opinion is less valuable then anyone elses but it can be reafirming to have your questions answered by a respected member of the board. From time to time it could be used as a popularity contest but it's pretty hard for one person to have a significant negative impact. You have to take the good with the bad and I think the good on this board far outweighs the bad.
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Robb
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