Yes, it is starting now. Everything has a beginning and this is the beginning of the user reputation system. If you're just as helpful going forward, you have nothing to worry about
As for whether it's a fair system? We think it is. It's a much better measure for our type of community. In the end, with or without the visual indicator, people have a reputation. It shouldn't be a contest like post count became.
We'll never please everyone, but this comes closest to the type of community we want to create.