Others have provided their own observations and critiques of this article, appearing in Dragon Magazine #10, October 1977.
I, likewise, applaud the proposed DnD variant for experience point acquisition.
My purpose in posting this old Dragon article is two-fold: to once again highlight the delicious whimsy of old school Dungeons and Dragons art (the above orgy scene is by the incomparable David Trampier), and demonstrate the inclusiveness and tolerance apportioned to different gameplay approaches during the early years of the hobby.
Here's the first page from the Dragon article on alternative experience point acquisition. For those of you who are not already familiar with its contents ... enjoy.