No-one has ever suggested that SO rep alone should be used solely to judge someone's skills when hiring. Then neither would the contents of your github or bitbucket repo (after all how do you prove that the code in the repo is yours?).

SO rep is just another small nugget of information that may be useful to potential employers, and if said employer is using the SO careers site, your Careers profile is linked to your SO profile page.

I mention in my "other activities" section of my CV that I participate in the site, but I certainly don't make a big deal about it, and especially the rep part.