Why not go on flagging? You might be having an effect.
I'm not sure if I'd want to know my flags are being ignored. I know I was pretty disappointed to lose my downvote ability a few weeks ago (I was one of the 200-500 karma notch babies). Knowing that I'd lost an unearned flag ability might be even worse. On the other hand, if I knew, I wouldn't bother with the noobstories page anymore.
Then I take a breath, close the browser tab, get back to work and realize that I care too much at that moment about something very low on the totem pole that isn't going to increase my effective output for the day.
We can't have it both ways, unfortunately. The more transparent the voting and flagging mechanisms are on the site the more likely they are to be gamed. I'm ok with just 'doing' and not worrying how much of an effect it has on the site.
(And by the way, thank you.)
The same system could even be applied to other user actions such as voting, replying, and story submission, to help emphasize quality over quantity.