I run a forum focused around older guys retiring in the Philippines. To make them change their passwords regularly, or to force them to use a password such as asdf*&$%JEOK is ridiculous. If it were possible for me to implement this feature, I wouldn't do so. But, as previously stated, it would be acceptable if we (Administrators) had control over the option:
In my case, my older members like the KISS (Keep It Simple Stupid) method. Older members of my forums don't like a lot of changes. Heck, I can only imagine a number of them having problems with v3.0. They have been accustomed to v2.0 for so long but now must change.
Onward. Now, if what Charles states is true:
Then there is no need for that option anyway.
My two cents,