First off, I understand two things:
- Reputation is a meaningless number.
- This isn't necessarily directed at me (or so I hope... Jeff did say that the list that I was fifth on looked about right)
That said, it's really difficult for me to not feel penalized when I lose 20% of my reputation and probably get knocked out of the top 100. I like stackoverflow because it's a place where I really feel that learning is encouraged. And I personally love learning. I'll probably still get a big portion of my upvotes from asking questions.
I understand the decision. However, it's difficult not to feel discouraged though as my favorite part of using stack overflow will now essentially be considered to be half as important as the other part.
At least give me some kind of consolation here. Maybe a new gold badge of some kind? A top 20 question asker list? Heck, I'd even go for an increase to the bonus I get for accepting answers.
EDIT: I suppose the rep recalc didn't have as huge an effect as I thought it would. I'm still not convinced that this is the best course of action, but I can live with it I suppose.