Way back in October 2009 Reddit introduced their "Best" comment sorting system. We've just pulled those changes into Less Wrong. The changes affect only comments, not stories.
It's good. It should significantly improve the visibility of good comments posted later in the life of an article. You (yes you) should adopt it. It's the default for new users.
See http://blog.reddit.com/2009/10/reddits-new-comment-sorting-system.html for the details.
Short version of how this is different, for those too lazy to click on the link: if you sort by "top", comments get sorted in a simple "the ones with the highest score go on top" order. This has the problem that it favors comments that were posted early on, since they're the ones that people see first and they've had a lot of time to gather upvotes. A good comment that's posted late might get stuck near the bottom because few people ever scroll all the way down to upvote it.
"Best" uses some statistical magic to fix that:
Not sure I fully understood that either. But they say it works well, so I guess I'll trust them!
I think what they're doing is doing statistical inference for the fraction upvotes/total_votes. I'm not sure this is the best model, possible but it seems to have worked well enough.
I suspect they're taking the mean of the 95% confidence interval, but I'm not sure. There's actually a pretty natural way to do this more rigorously in a Bayesian framework, called hierarchical modeling (similar to this), but it can be complex to fit such a model.
Edit: However, a simpler Bayesian approach would just be to do inference for a proportion using a 'reasonable' prior... (read more)