First off, are you more likely to go for a short walk without making sure it's something you like, or spend 40$ on a book or movie that will take a few weeks to get here? It's hard to buy something spur-the-moment when you won't have it for a veeeeeery long moment.
Also, if you are rating a cache, can you honestly tell me that you wouldn't rate your first puzzle cache lower because you found out you don't like puzzle caches? Or if it's an amazing cache but you couldn't find it, it doesn't matter whether that's because you aren't very good at finding caches, it was too hard to find, or it was missing, can you honestly say you wouldn't rate it lower than if you found it? And think of the people who made the cache. They make this nice cache, but then somebody decides they hate night caching, and so they get a 1star rating...
Wouldn't the programming time needed for this, once you include trying to get everybody to re-rate all their previously found caches, be much better used on improving Wherigo for use on more GPSs, or being faster or something like that. Why not improve the efficiency of Waymarking.com so that you could see your waymarks along with your geocaches on your paperless GPS. You could use this time to create a poll system so that they could know what we want, and how many of us want it.
We should instead have something where it doesn't mean anyone thinks you have a horrible cache if you don't get anything (I liked that idea of the awards system) after all, geocaching is about the fun of finding the cache, not about trying to get as high of ratings as you can.
I will now sit back to see how this argument continues (if I can resist the urge to butt in)