Janice, I think what Chuck is trying to say that there has to ba a middle of the road approach.
As an east coaster, I rely on new issue services such as Chuck's. When limits are at a ridiculous low of 5, no one gains.
IMHO The new issue providers are not able to fill their orders and as Chuck mentioned the casinos get stuck with a pile of chips.
I could see setting a limit of 20 on an issue size of 750-1000. There should be plenty for all.