Real Security+discussion
wagn's permission system is set-based and pretty clever but probably still sufficiently ACL-like that you might consider it fascist?
Not sure that I follow how inheritance on link-based flags works unless links themselves are objects, which they aren't at present.
General reaction is that this sounds like a cool solution but not one that I addresses any problem I regularly encounter (at least so far as I understand it) and one that would drastically shake up a lot of current sites. So not something I'm personally inspired to put energy towards. But the currently permission handling is pretty well modularized, so you might plausibly be able to take the module off if you're interested in building the system you describe. If that's the case let us know where you run into API limitations.