1) Nah, probably not. Some common standards could be nice, but they should be specific, and once we start trying to do something LW-specific rather than some flavor of "general," karma ain't broke. Self-assigned standards might work if you can resist or somehow (like with another person) police gaming the system, but there's already systems for that.

2) The problem is inherent - putting things in this structure requires that you assign them relative worths. There may be an average answer, but average is wrong for a lot of people.