I can argue against the system after Gobbledydook's modification, because of the inherent problems with the original system.
The reason I suggest a rating system is because the point system, although perhaps entertaining, fails in distinguishing between the players. Ratings allow players to actually be compared, so that we know that a rating 2000 player is very strong, a 1600 player average and a 1400 player weak.
The Elo system could be adapted very effectively to Dilpomacy, and the player need not understand its mechanism, because the concepts it upholds are simple, common sense, and what matters.
The formulae may make your head hurt to look at, but the outcome is a simple number, which means that players are comparable properly, and we have achieved the objective of the system.
Of course, if nobody wants this and would rather have a system that allows players to bet, then this isn't up to the job, or we could have the two in parallel, but I assure you that the Elo system is better than the one we have now could ever be. I stress though that I do not criticise Kestas for using it, since I think he got it right in making a simple system and the focusing on the game itself. I just want to help get over this hurdle, by doing something I am capable of.