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Only if it goes one way. If I could inherit my MO rep over at math.SE, I might actually follow what's going on over there. However, if someone inherited rep here gained at math.SE, that would be really really bad.
This is not as one-sided as it sounds, though. Questions and answers on MO exceed the math.SE standards, and it would make sense to count them there. The converse is not true, however.
I'm not in favour.
On the new SE sites then you get a little "joining up" bonus if you've sufficient rep on the main SO sites (about 100, I think), but in general I would say that each site is for a slightly different community and just because you've been successful in one doesn't give you the right to have a say over one of the others.
I want 4000+ rep on math.SE, but I don't want Justin L to have 1400 rep over here... My reasons are purely selfish.
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