They are only doing it to protect their own profit margins in their overseas stores.
I somewhat agree with limits on items that are very limited in production or availability (like the Wii or limited edition handbags), but not on everyday items.
But all limits have ways of being beat! Stand in line with 5 friends to get the Wii (pay them $20 each but you can resell on ebay for 100-300$ more), use multiple CCs, use different shipping addresses, etc.
It's kind of like the people who cry on December 15th that all the Wiis are gone and only available on ebay. Well, if it meant so much to you or your kid...you should have bought it months ago (odds are a major item like this the kids would have been whining about it for months on end).
Same with people who whine that their limited edition bag is sold out. Well, if you really wanted it that badly, then you would have taken 5 minutes to call the store and waitlist. And if you still didn't get it after doing that, then you didn't waitlist early enough.
Now people from overseas are catching on, and so long as they are not buying them to take to the illegal counterfeit factories to reproduce them, then why not? It's not going to hurt us, because in this current economy the luxury brands are already seeing somewhat lower profits than a year ago, so they won't raise prices anymore than their typical yearly increase, for fear of driving away more customers.
You might not agree with this opinion....and this topic has been beat to death over on the LV board...but that is what I think.