Software Engineer Review Process / Performance Reviews

I have been thinking about how to make the review process more agile
and more extreme like.

I always fall back on my fundamental learnings from Ricardo Semler and
thus I have come up with the Maverick Review Process.

http://home.att.net/~geoffrey.slink...ickReviews.html

Please tell me what you think.

Do you have teams that are above the review process?
Do you have teams that get all of the bonuses or cheap stock options?
Are there heroes that save the day?
Are there team members that just don't fit in?
Are there team members that just can't do the job?
Is the management team destroying the company and you can't do a thing
about it?

:-)