I think up-voting early and often is a good thing. I think this holds true for both good questions (or interesting ones, even if not well-stated) and good answers (again, or interesting ones, even if not well-stated) that provide valid results. Also, I think we all should encourage the acceptance of the most correct answer for a question.
If we don't vote things up, they won't get noticed. If we do vote things up, they will get noticed. Also, people asking good or interesting questions or providing good or interesting answers will usually do so more often if they get upvotes. This is due to a complex human response and motivation mechanism similar to why social media "like" hits and similar positive flagging works. These actions key into things wired into us humans for feeling good.
The real result of more people voting is not to dilute each vote but to empower each questioner and answerer. If more people do it, we all get more feedback about it and do it more.
As for down voting, I think it should be reserved for straight up poor advice or false answers , yet used far more often in general. A down vote will stand out, and it should do so as an example of something that will not provide a functional solution.
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