Theymos, why do we need a DefaultTrust list in the first place, either the existing one or the proposed modified one?
Why do we need to create a class of users who are more equal than the rest?
What practical purpose does it serve? Shouldn't all of our ratings be equal?
I can understand (and in fact support) if you and BadBear are given extra trust privileges.
But for everyone else, shouldn't we have a level playing field?

Simplify the trust system. Let all trust ratings be equal.
'Trade with extreme caution' should appear only when members accumulate more negative than positive ratings.
Don't leave the power in the hands of a few select individuals.