If this is indeed the case....why would Randy himself post something like this?

Originally posted by Randy Petersen:
QUESTION: Is there a cap to either the number of accounts or number of miles?
ANSWER: No cap on the number of programs covered per membership to the extent of those listed in our materials (it doesn't matter if you belong to 2 or 12 programs) and we don't have an actual cap to the number of miles we can protect for you (some members have millions and with the Midway program, while their award structure was not mileage-based, some members did have covereage equal to about 900,000 miles, which why some 10 years later they are still enjoying their awards courtesy of AwardGuard). The restriction is based on payout per year. For instance, new members can't have claims equal to more than $7.500 in a given year PER program. The reality is that most people may redeem 2-4 rewards a year and most don't exceed that cost. The cost being the claim to supply substitution of awards via a purchased airline ticket.

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This implies that the $7500 is PER YEAR and that people from the Midway program have continued to enjoy benefits for some time...like 2-4 rewards a year as Randy states.
If the $7500 is a one time aggregate...then I would have to say that AwardGuard is almost worthless!