Personally, I don't care one way or the other, and haven't voted.
I can see that it might turn into a popularity contest (especially amongst the younger crowd here - I'm thinking of the Cadet threads). I can also see how it MIGHT enable someone new on the site to make a judgement regarding a poster's "credibility". I'm not sure that any "virtual" credibility I might earn here in any way translates to the real world - but can see it as a minorly useful tool for that purpose.
I'm not a big fan of smilies (although I do use them occasionally), either - but if using smilies gives someone a charge, I don't object to them either. I don't use the "status" thing Mike put up either - but do find some of the statements found there amusing. My display is set up to NOT see peoples avatars - but some folks get great joy out of seeing them.
What I'm saying is that Mike offers a great "menu" of choices here - you don't need to use every item on the menu to have a good time participating - and if you don't want to use a certain item - then don't.
If these little features don't require a great deal of time to manage, and have an appeal to some on the board, then I don't see the harm.
Edit: Missed a word.