Total karma won't restrict people like Eugine at all. The vast bulk of his karma seemed to come from the monthly rationality quote threads, where ten minutes of web surfing and copy/paste can get you 10-100 positive karma. You can even loot old monthly threads if you want, people will still think it's worth upvoting if they even remember it's been posted before.

IMHO the monthly quote threads (and possibly other similar types of thread) should not contribute to karma total.