I feel that this scoring system has a lot of merit for club level competition for certain events.
Racing is racing and the fastest rider wins BUT at club level there is always room for alternatives to add a fun factor and get riders that don't normally ride against each other on the track at the same time. Lets face it if you ride 250 Pre75 at 8 meetings a year at a club there are usually a few 'place getters' who most riders know are battling for the win. This system could be used on some occassions to shake things up maybe suddenly the rider on the '71 model who is 65yo is in the hunt against the young!
40yo 'gun' on the '74 model . Not every race or even every meeting but on some accassions. Added interest and throws up variations to the normal outcomes.
These handicap systems have been used in many many sports very succesfully. They need to be simple, easy to administer and easy to understand.
Golf, sailing, shooting, tennis, speedway, horse racing, drag racing and many others all use some form of handicaping in some events NOT ALL EVENTS is the key here.
Imagine at club meeting running the Pre70, 75 and 78 bikes together around a grass track. score each class seperately and award 1st, 2nd & 3rd FATL in each and then also use this scoring system to award 1,2 & 3 handicap. You can not tell me people would not be interested to see how they go.
In this case all Pre75s would be deemed '74 models and the same for the other two ERAs. Yes the fastest rider on probably the fastest Pre78 would win outright but who would win on handicap???