I was once completely addicted to the Critiques section, looking at everything almost daily and posting often, and though the password seems such a small thing, that single extra hoop to jump through eventually cut my visits and posts in the area by 98%. (Of course, some may regard that as a 2% shortfall in the system's efficiency.)
I'm usually stealing time from something else in order to visit, and every level of "security" that I have to go through might just as well be a locked door as a password-protected bridge.
And I agree that even that slight impediment to access is felt in terms of reduced activity overall.
"Nix it in '08!" Vote early, and often.
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