I'm completely open to discussion on that very topic!
Existing regulars will be "grandfathered" in, and I feel like future regulars should be chosen, in large part, by the community (I mean, mods may grant the badge, but I don't want us to be the gatekeepers of that going forward).
Perhaps we can have existing regulars nominate new ones or somesuch?
Additionally, I'd like to have a badge that recognizes being active here beyond the simple "Anniversary" badge that exists today. It's seriously awesome that we have members who have been here literally since the BBS opens, and it seems to me being able to have a title that recognizes that fact is appropriate.