I sincerely believe that IPB rep system is fine as it is - it can be set to be either public or anonymus, types of reps etc.
One thing that IMO is missing is a notification when getting repped.

I know Adriano made a mod for this (kudos to him!) but it would be nice if this was a part of the standard package. Not knowing for what post you got repped and having to manually sift thru your content is a bit tiresome. Hope 3.2 introduces this feature. :)

Agreed! This along with notifications for quotes makes it the perfect way to know when you've gotten feedback, be it in the form of rep or a reply, very easy ^_^