And how does "reputation" implementation correct any of the problems of the "Karma" implementation? The plain answer is that it doesn't. The issue, simply stated, is that, if the goal is to "fix" the poster's behavior, neither implementation provides enough information to give useful feedback. Instead it allows, even invites, sociopaths to anonymously attack posters without actually telling the posters what they are being attacked for. The ONLY implementation that makes sense is on a per-posting basis. It would also be really nice if the attackers couldn't remain anonymous. There is too much anonymity in sites like this and it is insanely stupid to add more.
As I said, that is ideal. We're working towards that but it can't happen overnight.
However, things have gotten worse, not better; since the Karma system was removed. Moderation reports are up, email complaints are way up and threads about "this forum is getting bad" are up.
No action is not the right choice, the karma/reputation system is not ideal but it's something while we work on the ideal solution.