No, what the FAQ actually says is that your points will be awarded on the date of your subscription in the case of multi-month (or lifetime) accounts. Which could be more then three weeks right now for some people.
But that's not the issue. According to Turbine, people who had an active subscription and logged in at least once a month "...through the Launch..." of F2P should be awarded points.
So here's the question:
I've had an active subscription since January (I know that isn't the cut off, just making sure I'm clear on this). If I cancel my subscription in two days I should still be awarded the points because by subscription was active "...through Launch..." but how much do you want to want to bet that if my subscription doesn't re-up whenever it's due that I won't get my points?
EDIT:
Couple of more key points:
http://www.lotro.com/support/policies/loyaltyreward <- This is the terms and conditions page for the Loyalty program. It's currently showing a 404 error. How curious.
Here is a google cached copy of the same page:
http://webcache.googleusercontent.co...&ct=clnk&gl=us
Some selected quotes:
"To qualify for the Special Offers, Non-Lifetime Membership Subscribers to LOTRO must maintain a paid subscription from June, 30th 2010 to the launch of LOTRO Free-to-Play (currently scheduled for Fall 2010) ("Special Offers Eligibility Date"). Lifetime Membership Subscribers must have at least one active play session per month during the Special Offers Eligibility Date."
Maintain a subscription....TO THE LAUNCH. Since my account was active until Sept 7th, I should get my points right? Even if I cancel Tomorrow?
"Eligible Subscribers will automatically receive 500 free Turbine Points for each completed calendar month they remain eligible. This limited point grant starts on June, 1st 2010 and continues until the first day of the month that LOTRO Free-to-Play becomes available to the general public ("Launches")."
FIRST DAY OF THE MONTH that LOTRO Free-To-Play becomes available to the general Public. So let's talk about that a minute. If I don't get my points until say, the 30th, Turbine is no in breach of contract because those points SHOULD have been awarded on the first of the month. But that's a non issue. As long as my sub was active on Sept 1st, I should get my points, right? Even if I cancel Tomorrow?
We'll see what happens, but so far, not very promising on Turbine's end.