Hi,
This sounds interesting, but there might be some problems with collecting data. Often legitimate edits are reverted by vandals, or by POV pushers. Other purely technical data would face similar problems of having to distinguish between good and bad data.
True, but I'm presuming that you'd have to be pretty lucky to get hit by vandals more than occasionally. Probably more likely when two people get stuck in a revert war, they both suffer (maybe not a bad thing!)
Of course, you could judge the value of someone's contribution by whether or not it was reverted by a sufficiently "qualified" user. Ie, a contribution by a user rating 10 reverted by a 1000 was probably not a worthwhile contribution. The reverse is probably a vandalism revert...?
Formalising runs the risk of creating a process that can be gamed. I think that ultimately the best way to measure someone's merit is to exercise one's own judgement, and encouraging that should be the primary element of any new process, rather than something with numbers.
Currently we don't have many tools for "judgment" on users we don't know. Someone reverts your change. Was it in good faith? They have a user name. Now what...check all their other edits, their user page, their talk page (and check the history on those pages in case they're hiding something!)? Data helps to make a good judgement.
Steve