I'm not saying that voting should be eliminated entirely, but maybe it becomes just part of the heuristic. Imagine something like BCS standings, but for comments. Even vote tallies could become smarter, with votes from "trusted" users counting more heavily than those from "noobs" or well known rabble-rousers.
Finally, I think it would be really neat (assuming you like my proposal of a combined heuristic in place of voting) if the algorithm was open source. Take the Google view of "if you don't like the results, don't special case the outcomes, improve the algorithm!" This would have the added benefit of giving the world a first-class comment value sorting algorithm vetted by some of the top talent in the world, and dog-food-ed on a site where they care deeply about the quality of the discussion.