Moderators (requests and notices)

These days, it's mostly a measure of how many good memes and sickbrn put-downs you've made. Which makes it useless for the only part of the site which actually considers it - the Classifieds.

Only sort-of. Rep is accrued by contributing to/being part of the community. This is important for classifieds as their rep indirectly reflects what others think of them, even if they haven't sold anything before. Maybe.