No, keep it. At least a much more consistent and defined (some people still think it's a kotor style good/evil) system that won't be confusing for rp purposes. I liked that you couldn't solve certain arguments or persuade others through dialogue unless you had a high enough P/R score...though I can see how that could be frustrating.
So a compromise that I would like to see is, instead of penalizing the player for lack of score/points and being locked out, make the neutral option have a meaningful impact while having a different (but not necessarily negative) outcome to the other two choices.
But definitely, the system needs to be redone and redefined. Polishing a mixture of ME1's morality and ME2's interrupts would be a start.