Now that each site has a privilege page, it seems pointless to duplicate information on the rep levels between it and the FAQ.
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Currently, the Privileges page does not show a complete list of privilege/requirement information directly, like is found on the FAQ page. You have to drill down into each section to find out the reputation level.
Even if the privileges page did show all that information directly, I disagree with this proposal -- it's not pointless to duplicate the information. Any time you link elsewhere, it's less likely that people will follow (or even see) the link before asking a question about it. This is especially the case when dealing with site audiences that aren't technical, and Stack Exchange is very definitely moving into that kind of user space.
What I do think should be done is: