I kept it simple: Reverse order = Number of points
i.e. #3 on front page = 28 pts etc.
Points are accrued every time a snapshot of the front page is taken.
There is a flaw with this system in that outside of peak hours, some less important item might hang around the front page a little longer and earn a too many points but I feel that it still works well enough to catch up with HN Content.