Earlier quoted context omitted.
...which is a problem with a crystal clear cause: if you allow purely democratic voting, then you'll end up with really popular crap reaching the top of the pile fairly often. Imagine how useless Pagerank would be as an algorithm if it considered links from every drooler with a domain name to count for the same amount as those coming from the frontpage of Yahoo - that's essentially what you're doing when you tally up…
Your last suggestion seems to make things less democratic understandably, but how would it be implemented?
I came to the conclusion that using Karma as a score is a rather bad idea as it assumes that people who get voted up have better judgement: "If you post well you must vote well."
But I'm sceptical that this is the case, it's easy to see someone like patio11 has both excellent judgement and a high karma score. But vote power = karma probably means you're giving a casting vote to patio11 if he turns up but mainly you're giving vote power to the people who post the most.
The implementation I have is basically: "If you made hard decisions in the past and voted well, you get more vote power."