Brief introduction: shortly after I started hanging my hat here (not even a year ago),
As it turns out, I was also a bad moderator! I've collected all sorts of information about moderation from posters here, the mod guidelines, and the ranting of Taco in his journal. So the next time my turn came up, I changed the way I do things. I picked a random recent discussion (couple down on the front page), switched my Threshold to -1, Newest First, and went at it. Always moderated up, never down. Looked for the gems that got posted late, and were sitting at 0/1, didn't rubber stamp a post that was already at 3/4. On top of that, I avoided the Over/Underrated cop-out moderation.
So, a few days later, before the results of M2 even came in, I got another set of mod points. And then another, and another. Since then, I've been banging through mod points almost every 72 hours (sitting on some right now, even). So often, in fact, I was thinking about unchecking "Willing to Moderate" for a while.
The conclusion I have to draw is that modding up low-rated scores seems to have a huge impact on how many of those "tokens" (from the FAQ) that you get. I'm not much for moderation (I usually moderate with the "Reply" button, don't M2 much either) but some folks out there are, so I wanted to pass along my experiences. I figure someone might appreciate a way to be more influential around here.
Sorry about the disjointed nature and the bad grammar in this journal entry, but it's early in the morning for me.