Personally, from a moderation standpoint, I wouldn't feel right having to issue an infraction or give a warning or a ban to someone for insulting others, when I voted such and such as 'Biggest Dickhead' (or whatever).

It just doesn't really seem necessary to celebrate the negative.

Dude, definitely keep the negative awards. Without them, this is just mildly interesting ego stroking. Unless I win something of course.