Being in my mid 20's and living in Salt Lake City, I have many friends that work at Backcountry. Employees can't return or exchange anything purchased at a discounted price. Returning abused items to Backcountry is frowned upon by the people who work there. They do keep track of everything you have returned and you can get blacklisted if you abuse the system.
I am disappointed they changed the policy and they have lost much of my business because of it. I have spent thousands and thousands of dollars at Backcountry over the years and returned maybe two items ever. I would buy everything from them because of the lifetime return policy even though I never really had to use it. Since their return policy is the same as most other stores now, I would rather give my money to the smaller shops around town.
I still do very much appreciate that the Backcounry store is open on Sunday mornings. That's hard to come by in Utah and they have saved me many times when I needed last second bike parts before a Sunday ride.