[RyanCahoon]

A couple of reactions:
1) I think it depends on what type of pin; Bill's posting is the first I heard of this idea, so I'm not sure what FIRST has in mind. A very nice, stamped/die cut metal pin I think could still hold a lot of significance. I hope FIRST doesn't think it can get away with the mass produced plastic pins that the teams give out. This distinction alone I think would help to set them apart.
2) At least for me, it's less about the physical significance than the memories and emotional weight that the medals carry. I have several FIRST participation medals, a regional champion, and a regional finalist medals at home, but to me, the most cherished of all my memorabilia from FIRST is the small pin I was given by Woodie Flowers when I met him in Atlanta last year. I think it's possible for a pin to carry the same weight to you as a medal, and how many people really pass through your room anyway?
3) From the standpoint of FIRST's mission to change a culture, I think the medallions have some significance. If we're trying to say to kids, "Hey, you can be just as successful and win just as much recognition from your peers by being on the robotics team as you can on the football team," there could be a lot of difference between "I got quarter kilo medal," and "I got a lapel pin." (perhaps some exaggeration present)

--Ryan