You've put it more succinctly than I could. I don't condone pencil whipping, and won't advise anyone to do it. However, if the choice is between financial ruin and staying employed, well, I wouldn't look down on anyone for protecting themselves.
crazyjaydawg, I'm glad things worked out for you, but I urge you to walk a mile in someone else's shoes before you expect your fellow pilots to take their lumps and become Starbucks baristas over this rule change. I had no ability to pick up open time when I was a <1500 hour regional pilot, and I know I wasn't the only one. ~40 block hours a month was my average at XJT, and I never even got close to holding a line (though I'd been told it'd be 2-3 months!).