I know at first glance this sounds identical to the bounty system, but it is not necessarily what I am thinking of.
Sometimes there are questions or answers out there that you think are just -that- good and they deserve to be rewarded more than usual. What I wanted to potentially suggest was the ability to award reputation on a question or answer moreso than the typical +10 for an upvote. This extra amount would be directly proportional to the amount of rep you decide to sacrifice (with a limit of say 50 rep).
I know there could be the potential to try and game the system doing this, but I would imagine it would be incredibly easy to isolate this type of behavior in the nightly checks that go on. I also believe that for the most part this will be used only for seriously good content because we know how well most people like to cling to their own rep.