I think merit system will take a long time to come into effect as current merit generation is going on and Admins will need time to generate more merit to give it to the users, who actually deserve it.
One Suggestion:
As merit is the way to rank the post for the quality. Why don't you guys put in higher in the page. I mean give it preference, when user sees it.
I am Member waiting for promotion to the Full Member and I think Merit is worth what is stand for. I can wait for the promotion if it helps the community grow in the good way.