Since the Stack Exchange suite of sites is not about gaining rep and more about community contribution and those that have been interacted with, helped, and left in a better position than before coming to the site, I propose that the rep on the user card reset to '0' after 999k. This would further solidify the following from the 'faq':
Reputation is a rough measurement of how much the community trusts you
No need to take away any privileges, and in fact maybe another gold or even platinum (very difficult to achieve) badge could be created (quite difficult to get except a few that are on there way to the '1M' mark already).
So what do you think instead of a user card with '1.1M' they go back to '0' and begin all over. After all no one should be here with a motive for the rep points anyway (I know I'm not, but rather the satisfaction I get when able to help someone out or have a question of mine answered). It would reignite the motivation factor to help out those in the community all over again!