Hey Mark!
Sorry you weren't satisfied with the answer - hopefully this large amount of detail will help [brace yourself]
First, a little history....
When we first built the web app, we had originally thought about emulating the tool Rank Tracker but in the campaign context. Over 2 years (up to 2009) we had 85,000 keywords across all our customers, so we wanted to offer more functionality int he web app, so we allowed users to track up to 3 search engine for their keywords (this meant instead of just checking one rank, we generally check 3 ranks for every keyword). We also increased the limit to many more keywords and allowed users to cut and past into the tool.
Since it was so easy to add keywords, and people watch Rand's video which made the suggestion to just "cut and paste all the words that drive traffic to your site", and pretty soon almost all our users were maxing out their keywords.
What we thought was a reasonable amount of rankings, quickly changed, and we were checking over 500,000-800,000 keywords every single night (and keep in mind this is just weekly checks).
The issues with lots of keywords
In order to do this politely (since we want to make sure we aren't abusing the search engines) we have to spread these out throughout the day, and for really heavy days collecting all those SERPs can take almost the entire day!
Since we don't want to prioritize certain users over others we have set the once a week limit which enables us to evenly distribute out collection over the whole week, and make sure that all rankings are always collected (since sometimes things can break when SERP layouts change, etc.)
Usability issues with different frequencies
Another challenge that has come up is that it is really important to a lot of users that all of their data updates on the same day. This poses a problem when keywords and rankings are collected off cycle, since then graphs could end up with extra data points and the definition of "weekly change" throughout our UI becomes fuzzy (do you use the week delta, or do you use the last rank you checked?). So we went for simple to make this more clear and usable for everyone.
So could we add more capacity, a new product, something?
Yes, to all of those questions.
We could make it so we could do a lot more keywords. And we have considered on demand rank checking, or even just tracking keywords outside of the campaign. However, it isn't something we are planning to do right now.
Instead we are focusing on improving the SERPs we do collect to include vertical results - like local, images and video - so you can track your performance in those areas. We are also focusing on adding more functionality to the web app to make it even more valuable for each campaign - including adding social data, and more.
However, we definitely, definitely listen to our customers and use your feedback as a critical factor in all of our product planning efforts. So if you think this is the wrong decision, or you want to tell us to build something - let us know here:
http://seomoz.zendesk.com/forums/293194-seomoz-pro-feature-requests
We couldn't build what we do without your input and it means a lot to us to hear your feedback.
Hope that helps!
Kate