I wholeheartedly agree with this, Ben! In fact, just yesterday I was mulling about writing a post "The Fallacy of Stars", talking about the star system used with these boards. I was starting to put my thoughts together this morning when I ran across your post.
In my opinion, the stars seemed to have become abused and misused. In some cases, 1-star ratings are given to perfectly valid posts, and at the other end, 5-star ratings are given to posts which simply say they agree with a previous post. I also find it odd that with some users they always seem to get 5 stars regardless of what they say! The conspiracy folks may think they have a buddy giving them the stars or they have an alias that's being used just to hand out stars. I was going to suggest doing away with the stars and going with something similar to the system used on other systems, like having an "Accepted Answer", which can only be set by the person who posted the question in the first place, or the forum moderator(s). Anything else is just an answer. If someone gives a wrong answer, I'm sure someone will be along to provide a follow-up to indicate why it's wrong. The forums here seems to be quite good at policing themselves with respect to this.