I also use it to cultivate roleplaying skill in a more longterm sense, since the description that got a bonus today may not be good enough for a bonus next month.
I like that. Use the reward/penalty system to subtly communicate to your players your standards for roleplaying and where you'd like their level of involvement to be. Instant feedback is probably good in a PbP format where it may take you months (or more) to get to a place where you would tally up XP.
Nysidion uses a system where after each chapter, the players vote on who they think did the best RP'ing, and that person gets and XP reward. I must say that has actually motivated me a bit, as it's the best person in that particular game at that particular time who sets the standard, and the decision seems somewhat objective because it's democratic.