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So, I couldn't figure out where to put this, nor where to find out, so... what is 'exalting' on Dakka, and what does it do/achieve?

The description located in the "Thread Tools" dropdown menu:

If you see a thread that is especially good, and want to archive it here, click 'exalt +1' next to the post reply button in the thread. Once you have exalted a thread, you may never go back on it, so think carefuly about each exalt. Exalting a thread marks that you think it is a great thread, allowing us to promote the best content on the site, as opposed to a thread subscription which simply marks threads you have interacted in or are monitoring. Note, removing a topic from this list will not un-like it, it just hides it here to keep your list trimmed and clean.

... huh, alright. thanks.