I noticed last night that I managed to squeak in 200 reputation by about 7:30 EST, beating the 8 PM cut-off time for the new day. My profile for yesterday shows "200" reputation listed.
Either the system is taking almost 12 hours to hand out
Mortarboard badges, I didn't truly hit 200 rep, or the reputation cap has increased beyond 200.
So, out of curiosity, did the reputation cap increase and I missed the memo, or is there nothing to see here?