Voting reform

I'm starting to crystallise my thoughts on the forthcoming AV referendum.  I couldn't quite articulate just why I found myself veering towards the "No" side, but then a quote from Winston Churchill brought things into focus for me.  Apparently AV was being discussed back in the early 1930s and WC opposed it saying that it would mean that there was a danger that elections would be decided by "the most worthless votes given for the most worthless candidates". Perhaps "worthless" was an ill-chosen word, but you can see what he meant.  Because votes are redistributed, if necessary, from the bottom up, then elections could hinge on the second preference votes of those whose first preference was for the Monster Raving Loony Party, or the Miss Great Britain Party, or - Gawd 'elp us - the BNP - and would you really want such people to effectively have the casting vote?  Still undecided, but I'll take some persuading to vote "Yes".