But on the downside, the number of posts written in terrible English (to the point where you struggle to read them) is increasing, the number of wankerish posts are increasing, and scammers can join and scam people freely now.
Take trials owns' post, (sorry to pick out but I wanted an example), how hard would it be to add some capitals in there and some punctuation? It would make it far more readable, even if the spelling mistakes were ignored. (IMO spelling mistakes don't make it much harder to read).
Under the old system if those mistakes were being made, the member wouldn't get validated, so they'd be pushed to sort out their english by other members, then they'd get validated and post higher quality, readable posts. Now there isn't any incentive, so there are a lot of members simply not bothering to make the effort.