The out the box rating in SP2010 didn't quite meet the requirements for the site i was building.
I did manage to adapt the SPToolbasket ratings to meet my needs though. To get the stars appearing instead of "(4) - 1 rating(s)" you need to write a bit of custom xsl.
Create a new xsl file in ...14\Template\Layouts\XSL and ensure the filename starts with "fldtypes_". In this file you can do something like this...
<xsl:template match="FieldRef[@Name='RateValue']" mode="Text_body">
<xsl:param name="thisNode" select="." />
<img src="/_layouts/images/sptoolbasket/rating_1.gif" alt="1 star" />
and repeat and customise for 2,3,4 and 5 stars
Hope that helps