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RC doesn't even remotely limit spam. The largest abusers here have less than 1000 HP and can spam endlessly with little impact on their RC.
The RC system is completely broken and only affects new users usually doing legitimate transactions.
I know all the basics of how RC system works, mana/dvmana, d/voting-%, ties to HP, etc, and I remember a little from very early discussions on RC and balancing it, but then I lost the track. From what you said, it seems like there's some basic obvious issue that eludes me. Could you elaborate on that a bit? Or a link to a post that explains it/etc would be fine.
I don’t know of a good reference outside of the codebase. We don’t have much for docs or tutorials.