I've got mixed feelings about the merit system. I agree that it'll help combat post spam, but I have to admit that it's kind of demotivating.
For the most part, I've tried to contribute high quality posts, but I still worry that the scarcity of sMerits will make it extremely difficult for me to rank up to the next level. I know that's the point, but I kind of feel like I'm being penalized even though I've tried to maintain a high quality account.