Basically what was mentioned before,
- Exclude certain usergroups from voting
- Exclude negative reputations from voting
- Follow VB reputation user spread option rules
- Voting per day based on usergroup or exempt Administrators
- Hide posts with low ratings
That would make it perfect

This is just a personal request but I would like that instead of having the thumbs up / thumbs down disappear for those not allowed to vote it is still there but they get an error that explains why they can't. So if a user is banned from using it, or doesn't have enough posts, the thumbs up/down doesn't just disappear but they are reminded with a message why they can't use it or need more posts to use it.