Perhaps points should only apply to stuff done in the funhouse? Since most casual posters avoid the funhouse, the more community-driven members will know that the points don't really mean much of anything.
I strongly disagree with the idea of points giving access to various features, as then you'll have people crying for points so they can put crappy images in their signatures or something. Likewise, I'm not keen on rewarding people for the quantity of their posts... Just quality. SPAM shouldn't be rewarded.
And, finally, if points are clutter, so are avatars, signatures and titles... Can we get rid of those too?