S.Shady is correct; it essentially takes the $newuserid variable and runs it through the format_number routine, and displays it. This gives users an idea of how many accounts have ever been created on a forum (since $newuserid is sequential).
This, of course, means different things for different forums. For my forum, it represents the number of total members registered, but not pruned due to inactivity (since we regularly prune thousands of inactive accounts).
Kaelon
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