I'd actually have to strongly disagree against the reputation system.
What if I just joined the forums, saw a very high-quality user, and then saw AC.
AC would have more posts, probably an earlier join date, no one would know about him.
I enjoy going through peoples reputation, it gives me a rough idea of the person, then I add all that together, get to know them and form my own opinion.
Now I'm not saying it's flawed, but I believe it should NOT be removed, maybe just modified if something was to ever happen to it.