Awesome points theoretically still exist, but don't show on profiles anymore. Now, profiles feature the Badge system, which awards different badges based on the number of Awesome points in particular categories.
Hull decided to go with a visual representation of a users' achievements via the badges. It's better in many ways, but the Awesome Points did give a better picture (ironically enough) of what the user had done.
It's my job to help the next generation, and set a good example for them. And for that I'll gladly lay down my life.
@snaker The awesome points was simply a part of your profile that showed what you'd done on this site. for example, it displayed the amount of bulletin board posts you'd made, blogs created, etc. It was replaced with the badges early this year.
It's my job to help the next generation, and set a good example for them. And for that I'll gladly lay down my life.
I believe part of the reason that badges don't show exact figures of content statistics was to reduce the often foolish and pointless competition that often leads to, gulp, spam. However, badges unfortunately still prompt people to do exactly that to max their badges.
Even though I still have to fix glitches with the badges, they cause considerably less server load than the Awesome Points system did. I've set up sons of the badges to recalculate daily or hourly instead of on each page load.
Taking into consideration what was mentioned above by HullBreach, one reason that we don't have both the old Awesomeness level along with the badges is because lag + more lag = a whole lotta lag.