Now we get in to a whole different area, and yes I do think the current system is flawed and well overdue for overhaul.
In terms of monetary value, I think fines need to be based upon income.
Last year I was working as a teacher taking home $1500 a fortnight and copped a $150 speeding fine, to be honest I didnt really care about the money, I could wear it not happily, but without a lot of stress. But now I'm out of work and living on $140 a fortnight, if I got the same fine, it goes from being 10% to 107% of my fortnightly income - same crime, vastly different penalty in terms of impact and severity.
Fines should be a percentage of the persons income so that the punishment is equal for all - cop writes you a fine, when you go to pay it you take in a pay slip and the penalty is a fixed percentage of your net pay.
More than that though, the whole points system is flawed and should be circumstance based.
Bruce Highway north from Anzac Ave up to near Gympie where it goes single lane, you can do 10kph over quite happily and more than safely - and lets not forget that most penalties and speed zones are based on 1960's and 70's cars with 4 drum brakes and no power assist or ABS.
Now you take that same car doing the same 10k over and place it outside a school at home time, same car, same excess speed but a vastly different amount of danger, yet the same penalty.
As I said in my earlier post, I've got 26 years on the road and almost every licence you can get. I also spent 2 years working for the Speed Camera section of the WA cops, so I've seen both sides of it - oh and incidentally, back when I was working there I had the same conversation with an inspector who had 30 years in the job and he agreed with everything I've just said here.