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
Incidently, its also possible to make some types of moderations cost multiple mod points to do (i.e., marking someone troll might cost two modpoints instead of one).
That one actually sounds like a very good idea. I think Troll is used too many times when Overrated would do the job (and is fairer - I've had things marked as Troll many times when I was just expressing my honest opinion), so it would be nice if the moderator paid an extra cost to use Troll, which, frankly is a bit offensive to those who receive it.
I'd upvote this with the caveat that moderators be given more than the bare minimum of 5 points, on a regular basis. If and when this site becomes popular enough, there will be far too many shit posts that will need modded into oblivion, just as a matter of course, making it too easy to run out of points that other good posts would otherwise be deserving of.