You guys just have to stop being negative and realize the facts here. No matter what system you introduce there will always be a way for people to abuse it. The only way around this is to set up good rules around all the loopholes and have a staff of people actively enforcing them.

As for everyone that complains it can be farmed or abused, the same thing can be said of the tournament system. If I want I can get my buddies together and say "Hey lets all camp the Greykido tourney and keep everyone else for winning and just throw matches against eachother, then split the profits after. Okay everyone go get on an alt and lets control the tournament for the lower players."

See tournament system abused just like you're saying my system can be abused. So stop thinking pessimistically about it and just realize that rules and a good staff enforcing those rules will solve the majority of the problems.