Interesting idea! One thing I have been thinking about is updating the reputation score to be more like a "web of trust" score or User Authority that some people have been talking about and your voting power would be based half on your steem power and half on your reputation. That way people with bad reputations but lots of money would find it harder to drain the rewards pool and people with less money but a higher reputation would be able to more effectively fight spam and abuse. Basically it's a checks and balances system
Obviously the reputation score needs a major overhaul for this to work because right now the reputation score is pretty much correlated with your steem power.
(upvoted for visibility)