I personally like the new system, as the old was rather inflationary.
However, the numbers need to be reasonably reset so that they actually reflect the new system; otherwise, new members will only have a couple hundred, while older members have hundreds of thousands (or more!)
In another forum I used to frequent, certain sections earned you more "frubals" (they were just points) than others: If you posted in intellectual debates (so any religious, political, discussion) threads, you got two points. If it was in a "fun" thread section, (like social games, jokes, poetry, food, etc) you only got one point, or none, depending on the value placed upon that section.
I liked that method since legitimate debate earned more points than "Dude, I love you so much, now frubal me in return!"