I found this posted on another site:

On June 10, 2008 Target's return policy changed from 20 dollars without proof of purchase twice a year to 35 dollars twice a year, and target now once again returns items that were bought and taken off registries. These items can now be returned up to 90 days after the day of the event, using the gift purchase log feature.

Does anyone know if it is correct? (Siouxfan???) I am really interested to see if all of the negative feedback they have had has influenced a change of any sort.