Yeah, PL800 is effectively the level cap. Everything beyond that is just a token increase in primary stat, and +5 per level is not that big a deal compared to the +800 or whatever you can find on an item in RoS.
+5 per level for 1200 levels is 6000 though.
I'm glad that you're all excited for these extra paragon levels, but it just ruins it for me knowing that Blizzard is going to create bind on account items to hinder bot selling, but then have all these stat boosting paragon levels which gives an incentive for bots to exist.
I just preferred the way D2 had it and which PoE has right now.
That's a valid concern, I assume that they check for the top exping characters, but I sure hope they do.