Something like this is just bound to cause drama and hurt feelings. Especially in a forum about love and friendship, that's one thing we really don't need. There are enough contenders for most of these suggested awards that I'm sure at least one of the members who doesn't get the prize will walk away with hurt feelings, even if they don't show it. And that's not even considering the members who don't get considered for the prize at all, who thought that they should.
No matter how mature the community is, something like this is bound to cause more harm than good, because, really, what's the point of a shiny award in your profile other than to say "I have something that you don't?"