Can you please share your settings with me? cgminer is able to get similar results?
Many people have said this, but I want to make sure lenny_ understands: The 10-15% "rejects" you see in p2pool have nothing to do with a decrease in income nor with wasted work. 10-15% rejects on p2pool is the same as 2-2.5% rejects on any other pool. The reason is that the p2pool sharechain is different (in behaviour) than the bitcoin blockchain.
I'm periodically fighting FUD of "p2pool sucks because they have a ridiculous reject ratio." I then explain it to people, with examples showing how you make more money with a 10-15% reject rate on p2pool than you would on a 2% reject rate on another pool. A few days later, someone else pops up and says the same thing.
...
Sorry, you are incorrect, since you have ignored pointing out the 2nd part of the reject issue:
The problem with 10-15% rejects is that means others on p2pool with 4-5% rejects are getting a greater proportion of each block vs their hash rate.
Yes if EVERYONE was mining at 10% rejects, then everyone would get the same proportion of income vs their hash rate.
However, those with better reject rates get a proportionately better payment rate and that extra comes from those with the worse reject rates.