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Google has not directly come out and said that they use Seller Ratings as a ranking signal. But, I would wager that they are. I think the benefits of having a strong Seller Ratings history go far beyond any ranking boost considering it would be one among many other small ranking signals that Google uses. With that said, I think it is an extremely worthwhile strategy to get your customers to review you.
My guess is that very strong or very poor Seller Ratings history relative to your category would make a difference in rank. That's just my two cents, though.
Check out this Google blog post that talks about Seller Ratings:
http://googleblog.blogspot.com/2010/12/being-bad-to-your-customers-is-bad-for.html
And this good article by Danny Sullivan on the same topic:
http://searchengineland.com/google-now-using-online-merchant-reviews-as-ranking-signal-57445