Not really, no. Karma is virtually the exact same thing as Fame and Infamy, just with no beating around the bush about it being an unrealistic omnipotent in-world scale of judgment. If I had my way, TES:V would use no absolute moral scale and instead would allow factions and sub-factions to judge player actions based on their individual and subjective views of right and wrong.
That way, if the player kills a somewhat power-hungry noble, the nobility that were allied with the victim dislike or fear the player. The nobility that were enemies with the victim will hold the player in some esteem. The religious organizations may support the removal of a corruption but may equally frown upon vigilantism. The law enforcement for the victim will passionately hate the player. Merchants and citizens who prospered under the victim may hold a grudge, and the individual citizenry will respond favorably or in opposition depending on their responsibility ratings.
Multiple and faceted reactions to one action, rather than an action automatically and uniformly being labeled uniformly "good" or uniformly "evil." That's what I want, and it's not possible with Fame/Infamy or Karma.
I think they should just make it to where you cant be Lord Crusadr AND Leader of the Dark Bro's
Tying into the topic of in-game representations of good and evil, quests should preferably be designed so that there is no true good faction or evil faction. Factions should truly all have their bright spots and their dark grimy patches, even for the knightly orders. If every faction has dirt under their fingernails in different and creative ways, then it allows the player to reach a subjective opinion about which faction best fits their character's definition of "good" (without the game winking and nudging towards it).