I've heard various ideas such as limiting it only after mods have expended their points (this will require implementing a cooldown to prevent a user from getting points again too soon). I want to hear your feedback, and I'll roll together something for the next major update of the site. Leave your comments
I hit 50 and stayed there for a while. Then someone disagreed with a comment I wrote on something and it went to 49, before going to to 50 again within a day or so, so I think you're right in practice.
Is it possible to tweak how the over/underrated mods are used? I have seen a comment get "Overrated" before any other mods on it, which is effectively saying "This comment disagrees with my world view and I don't like it, even if it is correct". Maybe you could limit downmodding (either to only those with a certain level of Karma, or only one or two out of the ten can be used for downmodding - and only if you have already spent 5 of them or something).
Looking at Comments.pm, that is indeed the case, but its such a minor edge case I suspect it was completely overlooked as the other site hides karma values (I incidentally found that this code is in the public release of slashcode. Incidentally, I found this code in our tree, and will post the cheatsheet of what karma values on the other site mean in raw numerical terms).