Number of quality posts have increased. Spaming has been reduced. Started reviewing / referring / analysing while posting which would make the post more qualified. Really a good system brought forth. This drives us to get merits to move to other stage. Though the merit requirement from Full member to Sr.Member is bit high, number of quality posts have been increased and it supports to contribute the best to the campaigns we join and to the forum.
I do agree with you that this will increase the quality posts, but it seems like not everybody is aware of the merit system. Where I think it is a good thing, I also think that it might get hard to really get your merit up high. You have to put faith in the hands of people giving you merit, where not all are aware of the merit system.. I think there could be some improvements made, Like a banner you see when logging in on bitcointalk, so it gets more known!