I was elected to my first mod position right as this transition happened. So, I never moderated with the power to ban. However, I'm not really in favor of a switch back to the old system. I remember the power to ban being rampantly abused, especially in the regional forums. Elections had already devolved into the situation where the candidate with the most multiple accounts, or friends with multiple accounts, winning all regional elections. As a result, a lot of the "moderating" that occurred was banning posters that mods didn't like. As I recall the community forums (more complain than misc) were similarly abused.
If there was a return of banning powers, I'd like to see it constrained to forums where discussion should be more tightly controlled, like in the Debate, Specific Argument and Evidence forums. The Community and Regional forums don't really need the power of ban, just the editing of posts and a supermod that can be counted on to ban as necessary.
Also, why is banning needed? Doesn't editing/deleting posts solve any real problem anyway?
I also kind of take exception to the way we (No fingers pointed at anyone in particular) talk about trolling as if a person can't be be both a productive member of the website and someone who enjoys posting garbage in the appropriate forums. A 'good' poster does both, but also knows in which forums such things belong.