I know there was another question about removing the reputation limit (also tagged as declined)... It seemed like there was some backing of the idea of actually increasing it here on the meta site.
I propose making the reputation limit 500 points per day for the meta site.
I'm not proposing this because I've simply run out of rep for the day. After reading through this post here, it seemed like many people thought it would be a useful feature here on meta. I could care less about rights to edit, not a big deal to me.
Human nature tells you that people want the rep, why discourage interaction unnecessarily... And more importantly, the questions here on meta tend to be more about things just like this and not how to write Hello World in perl on an apache webserver...
Overall I think the rep on this site is not as big a deal as on SO or SF, so why treat it the same way? Why discourage participation in a highly participative section of the SO sites?
Since I've stated that rep is different and I am not the community, please take a look at this question here about what reputation means on the meta sites...