Let me propose a situation:
So, for some childish reason, I've taken a strong disliking to you... I dunno, let's say because of your terrible suggestion. Now, because of my strong disliking to you, I've taken it upon myself to bring your rep down every single time I'm given the opportunity. Not really fair, is it? Seeing as the only true retaliation you can make is to as well sink to my level and derep myself (granted, in theory, I have the knowledge and ability to justify my actions)... there isn't much that can be done to stop me.
See, the problem with the reputation as a whole is that there is ALWAYS going to be people who bitch and moan, no matter the system. Right now, it, being the reputation system, works fine as it is. Sure, there are people with larger amounts of reputation than others but at the same time, not only have they been here longer, they've been more active.
I voted 'No' as I'm complacent with the current system and see no true beneficiary gained upon revision.