Actually it's quite interesting, my activity seems to be going up as I post. I might even make some serious posts to get to 14 without spamming. I can see why newbies get stressed about the 360 second rule, but I think it's a good thing to keep in place. I was surprised that reporting posts was included in the rule though.
I think even the pm is included in this.
One think I like with current system is that these limits gets removed with increased activity. It does not require any merits or rank update for this. At least, there is some consolation for those who cannot make quality posts because of lack of knowledge or bad English.