2)  I would imagine a savvy degenerate (that busts in the first 1 or 2 levels) may find their way back in.  This may be something we must accept (from a player perspective I think its a great thing if a guy that just fired off the stack in level 1 re-enters) if we want to provide the utility to players that just missed the starting time and want action.  I think that utility far outweighs the unfairness of someone possibly re-entering.