For user Karma, Burac has the right of it. When someone likes your post they can click thumbs up which increases karma by one, when they dislike your post they can click thumbs down which decreases your karma by one.
No karma = zero, though as you will see from some members here it is possible to have negative karma if many people thumbs down your posts frequently.
For smilies, I actually believe they are generally speaking disabled as images on this forum (I've seen something about this in admin options). You can use some of the basic text speak smily commands, such as ;D fo grin, but note that some people may have punctuation reading turned off in their screen reader so wouldn't be able to see the sign unless it has letters in it (that's why ;D for smile is so oka, sinse even reading itwith out punctuation being read allowd your screen reader would stil read the d).
I will admit I don't personally miss them all that much, sinse I get sick of some forums where people post nothing but masses of smilies and two words as their contribution to the conversation.
I do however think the Karma system is rather helpful, sinse it gives people A, an idea of community standing, and B, a chance to let people know what you think of their posts without starting a massive arguement or hurling accusations, sinse obviously karma is anonymous.
With our dreaming and singing, Ceaseless and sorrowless we! The glory about us clinging Of the glorious futures we see,
Our souls with high music ringing; O men! It must ever be
That we dwell in our dreaming and singing, A little apart from ye. (Arthur O'Shaughnessy 1873.)