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This section contains many settings that dictate how users of your forum are able to affect each other's reputation score.
Enable User Reputation system
This is the global switch for the reputation system. If you disable this, users will not be able to rate each other nor will their scores be visible.
Default Reputation
This is the reputation score that new users will start out with.
Number of Reputation Levels to Display
When a user enters their User CP, they will see a list of their most recent reputation ratings. This affects how many of the latest ratings to display.
Administrator's Reputation Power
If you wish to have administrator's wield a certain reputation power independent of their calculated score, enter it here. Otherwise, set this to 0 and they will use the same calculations as everyone else.
Register Date Factor
The number of reputation points that a user is able to give or take is dependant on several factors, with the length they have been registered as one of them. A user's power is first initialized at 1 and then this factor and the factors that follow are used to increase it. For example if you set this to 365, every 365 days that the user has been a member of your forum, they would gain one point. So if they have been a member for five years, they would gain 5 points of power for a total of 6.
Post Count Factor
The amount of posts that a user has can also affect their reputation power. Set this to number of posts that you want to award one point for. For example, set this to 50 and for a user with 500 posts, they would gain 10 points of power.
Reputation Point Factor
The users current reputation score can also affect their reputation power. Set this to 100 and a user with a reputation of 1000 would gain 10 points of reputation power. If you set any of the power factors to 0, that will effectively remove that factor from having an effect on the user's reputation power.
Minimum Post Count
If the reputation system is enabled, anyone will be able to rate a post but only users with a post count above the level you set here will be able to actually give points or take points from another user.
Minimum Reputation Count
As with the post count above, a user must have a reputation above this level to be able to give or take points from another user's score.
Daily Reputation Clicks Limit
This sets how many unique members that a forum user will be able to rate in any 24 hour period. Administrators can rate as many people as they wish.
Reputation User Spread
This setting dictates how many unique members that a user must rate before they are able to rate the same member twice. The goal of this setting is to stop a member from either artificially bumping or dropping a user by repeatedly rating their posts.
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I found this in the vBulletin admin manual. I wonder what all of the settings on this board are set to. I know several of us had asked what the formula for computing rep given was, but we never got an answer.
Ours seems to be weighted on post count more than anything else