Is there a limit to how far back in the past an event can be?

I've read some other posts that refer to Dec. 31, 1969, but they never specifically mentioned a hard limit. They were also old issues, that I assumed would have been incorporated by now into 5.x.1.0. Anyhow, I tried to make an repeat even for a friend's birthday, but it defaulted to Dec. 31, 1969. The only way to get my repeat event to work correctly was to start it in 1970. Then the sequence generates correctly.

Also, is there a plan to have an indefinite repeat count eventually. I have suspicions that this may be a coding nightmare, especially with the node generation. However it is an essential feature for anniversary dates of events. Maybe my solution might be to create views which reference a taxonomy term in one original non repeating node. Thanks in advance for your response.