I'd like to see an option in CPAN search to only search for highly-rated modules.

Since the cpanratings information is web accessible you could always write a CPAN(PLUS) shell that did it.

CPAN's problem is really that it accepts everything

I have to disagree. The problem is that it can sometimes be hard to separate the wheat from the chaff. One possible solution would be to make CPAN less open.

However I strongly believe that doing this would be an instance of the cure being worse than the disease. Especially since there are other possible cures.