Personally, I think the current system is currently too lax and counter productive. It may lead to FI(R)'s that are more instrested in sending students solo in less than ideal wx just to get another notch in the logbook. Also, at some of the larger schools, it's possible that FI(R)'s will poach other solo sign off's from unrestricted FI's without even flying with the said student. The system is open to abuse in it's present form.
Bring back the old flight test with the CFI.....