Actually, that's pretty much how the current infraction system operates now.
There's a set of points, and a threshold above which members' behaviour gets restricted or ultimately banned - either temporarily or permanently. Bit like accumulating points on a driving license.
I think the only difference between that and your system is that these infractions aren't publicized - are you suggesting that they should be?
The other "control" system, of course is peer judgement through negative repping - although repping is not enabled for Outside posts.
Generally, I think the system works OK - yes, there's been a lot of aggro this week, but it's swings and roundabouts - sometimes whole months go by without people getting annoyed at each other.
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