Yes, and he will go straight to hell for it.
Of course not. He can play 100/200 if he wants (assuming he can find a site that will let him sit with $400). It's just that the higher the limit he plays, the more likely he's going to bust.
Bankroll guidelines are for people that don't want to bust out. You pick a number and they give you a guideline of where you should be able to survive the short term fluctuations of poker. If you don't care about busting out, or reloading your bankroll, then bankroll guidelines don't apply to you. Obviously. Play anywhere you like.
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