I don't think it has happened to me yet here, but on another site there are people who are constantly "If you keep it up, I am going to report you" and "You are reported" because you point out how inane their posts always are. It is really amusing how serious some people take it. They are usually the ones who also get upset that they cannot find out what action, if any, was taken on their reports.
For whatever it is worth, I think letting people track their reports like they do their posts as a function of the site or letting them know what action was or was not taken will just encourage people to barrage the mods with reported posts. When I was a mod somewhere, most every reported post boiled down to someone mad that someone else wasn't agreeing with them and was responding to their posts in a highly critical but fair way.
I've been involved with many forums over the years and have NEVER reported anyone at anytime unless it was a spammer trying to sell something. I honestly don't care what people post. If I disagree with them I simply state why I disagree then move on. It's a frigging online forum for hell's sake. Who really takes it that seriously? (That goes for "neg repping" too. I've never been the first to "neg rep" someone. Too childish!!!).