Registering multiple copies of the same game doesn't yield any additional points beyond the first.  And Elite refers to the "Elite Status" rank, which is either Gold (300-599 coins) or Platinum (600+ coins).

Yeah, it is kind of confusing.

The Elite Status thing only counts coins you earned that year.  So that will reset to zero July 1st.  However, all those coins you have earned you get to keep.  So you can build up coins for a couple of years.  Like GooseGaws said, they recently made it so that coins expire after two years.

Oh, so, you can get Platinum but not Elite if you have left over points.

I don't know what this means.  Your Elite status is based on how many coins you've earned during the current "Club Nintendo year," which runs from July 1st through June 30th.  It resets every July 1st.  If you've earned between 300-599 that year, you have "Gold" Elite status.  If you've earned 600 or more, you have "Platinum" Elite status.  The year-end rewards are issued accordingly.  Your coins will remain to be used for rewards for two full Club Nintendo years following the one in which they were registered.

All right thanks!

Lastly, how many coins does a game gives when you register it? From what I've seen it seems to be 60 coins but I'm not sure.

Traditionally a Wii game is worth 50 coins, a DS game 30, and downloadable games 10(?).  I'm not sure about 3DS games.  There are also various surveys you can do to earn additional coins (Post-Play surveys, Intend to Buy surveys, etc.).

EDIT (from nintendo.com):

You can earn Coins by:

• Registering a Wii (released after May 9, 2010) and completing the associated survey.
• Registering a Nintendo 3DS PIN and completing the associated survey.
• Registering a Nintendo DSi serial number, completing the associated survey, and linking your Nintendo DSi Shop to your Club Nintendo account (wireless broadband connection required) = 160 Coins. Click here for more information.
• Registering a Nintendo DSi XL PIN and completing the associated survey.
• Registering a Wii, Nintendo 3DS or Nintendo DS game and completing a quick survey.
  • Wii games = 50 Coins
  • Nintendo 3DS games = 30 Coins
  • Nintendo DS games = 30 Coins
• Indicating your intent to buy a game. You'll earn 10 extra Coins after you buy it, register it and complete the survey.
• Registering a Nintendo game and completing a quick survey within 30 days of its launch. You'll earn an additional 10 Coins!
• Any games you download will be automatically registered (and qualify for Post Play Surveys) after you link your Club Nintendo account. Additionally, 3D Classics and downloadable 3D games made for the Nintendo 3DS are eligible for Post Download Registration Surveys. To access the Post Download Registration Survey, you must visit the Club Nintendo website within 7 days after downloading. Please allow up to 24 hours for the Post Download Registration Survey to appear in your To-Do list.
• Completing a Post Play survey that will be available 7 days after the date the Product Registration survey is completed. For Wii and Nintendo DS games, you'll earn 10 Coins! For Nintendo 3DS, you'll earn 20 Coins.

Where on Club Nintendo do you check to see your progress on the Eliteness?

I also have an extra Flingsmash copy I can give the registry code away. Anyone currently on my friends list needed it?

Cool thanks! I think I can reach Elite status!

Click on "My Coins".  Along the left hand side you will see a box with your Elite Status Coins for 2011.

Underneath where it shows your Current Balance, click on the "See Details" link.