PSV: rating games by a traffic light

With the ESRB under fire since the Hot Coffee incident, many have called for an end to the self-regulation of the games industry. Some companies are even trying to implement their own ratings system that will (they hope) replace the
confusing "T for Teen, M for Mature" age ratings of the ESRB. Next Generation has
interviewed
David Kinney, head of Media Data Corporation, about his Profanity Sex Violence (or PSV) system.

The PSV rating system is, essentially, a traffic light. One light will be for profanity, another for sexual content,
and the final light represents violence. If the light is green, then there is little to no questionable content in that category – if the light is red, however, parents must be very cautious of that game. This system is definitely much simpler than the current system in place. Can you come up with a few examples of how the PSV system would be implemented on some currently available titles?

Can you suggest some other ratings systems? One which parallels the
movie industry is too obvious, but how about a ratings system akin to the Homeland Security Advisory System? We can denote the severity of the game?s content by how red the game?s label is.