Exactly what problems are all of you talking about regarding karma? The karma system appears to work fine for me. My only issue with it is that I don't understand the exact definitions of the variables in order to tweak the formula. I created a post about this today:
Questions about Karma formula
I noticed that a killspammed user can have higher karma than a real contributor, but I created a simple fix for that (I'll share if if anyone is interested).
I also noticed that the karma numbers don't seem fair for members that submit published stories, but I was hoping that by getting a better understanding the variables so that I could tweak it to be more fair.
Is there another problem with it that I haven't discovered?