So from what I can derive from this so far, is this is a ranking system that is based on how interconnected you are with your fellow hubbers. The system works by taking what look to be important keywords or topics (based on some unknown algorithm) and matching them with the titles of other topics.
I have employed the "suggest links" option on all my hubs as best I can and I have some feedback for hugpages:
1) the "suggest links" algorithm appears to only search for what it thinks to be keywords and doesn't allow the user to denote keywords. I understand why you wouldn't want users to pick all the keywords, however I think there should be some sort of way to add them yourself.
2) when selecting relevant links after using the "suggest links" feature, a lot of the links are too general or overly specific, or don't have anything to do with the actual word in its context. I hope this gets fixed for better linking.
3. I have noticed the hubs I have written come up a lot, however they are not always relevant. So I find it odd, that they come up. Especially with the whole "karma" idea, it seems anti-karmic to link only to my own hubs.
4. If it's karma, wouldn't it make sense to be able to suggest relevant on other people's hubs? I go to your page and see a relevant topic and than link to someone else's article on the matter. I understand why you wouldn't everyone out there linking their hubs to every word in an popular hubber's pages. However, if there was a rank system based on the karma score on how you can link to others, it would be a very cool feature! So 30 karma allows you 5 independent links and if they are deemed unworthy, your karma goes down. However, if they are deemed worthy, your karma goes up allowing you more links and etc.
5. When suggested links do come up, it would be nice if when your moused over what the system called a relevant link you could read a few lines of what the article is actually about. Rather than opening an entire other window.
I will continue to add more as I find out more about the HubKarma feature. Currently, my hubkarma score is 24, although I can't link to anymore content without providing unrelated or irrelevant links.
Note: If any of you out there have insight, please share!