Hi Rich:
I can see both sides of the coin in regards to keeping your daily quiz point score low, I presume to reduce the impact of absences on their grade.
Since this discussion forum is focused on grading systems, I'll comment that when deciding on the weight of each component, our interest should be "how can I best survey or assess if my students learned the material?". The goal is is providing instruction that leads to appropriate knowledge that can be applied in the workplace. The grading system is simply a measure of that learning.
I don't think any system is ever going to be perfect (unless we had only one student) becasue everyone learns and tests at different speed and levels. Some teachers base components (tests, quizzes, assignment, homework, etc) on percentage of time spent. This might work, but we really should come back to what our purpose is.
In your case, if you have daily quizzes and it's assessing what you covered the previous day, it seems like this would contribute to a greater portion of the grade. And, maybe those in-class assignments should have a greater weight than other components too. I don't know, you have to decide. My point is to try to measure how well a student learned. Points and grades aren't as important if the learning has occurred.
We've heard of the "A" student who is useless in the workplace. "Booksmart" or "grade-smart". Ultimately, that doesn't really help anyone, least of all the student.
Regards, Barry