As I said Gaz, it will be a bit of fun to you, but others won't see it that way. Whats the point of having awards if it won't create a bit of competition? Once you have competion arguments start (especially on something as informal as a forum), once arguments start someone always has to lose. The person that loses will feel alienated from the forum (I know I would), and they will leave. People outside of the forum will see this and they will feel they don't know enough and will feel alienated to join. What you'll end up with is an elite forum which you can only feel comfortable in if you know the ins and outs of Fiats.
Maybe I am taking this too seriously but I think the people suggesting this idea need to sit down and have a long think about the reprocussions of implementing this idea. It is definately not something to be rushed into and I personally think if it is to be implemented then it should be a sticky in the LL where it can be listed who has been awarded what awards. It shouldn't become a major part of the forum (i.e. there shouldn't be any signs that someone has been awarded [unless you look in the thread of course]).