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Thousands of poeple have got thousands of VIP points waiting to exchange them for Wii points, I can understand why Nintendo wants to restrict the amount of free points it releases onto the system. After all free points mean people aren't buying wii point cards.

Its not even that diffecult to exchange your points if you just check their website every once in a while. I've picked up about 6 100 point cards and 4 300 point cards so far.

 Edit

 In fact I've just picked up another 300 point card in the last 30 seconds and its currently showing as 200 100 point cards available and 200 300 point cards available.