Yeah, so one can reserve up to seven days of one's choosing? then not show and then reserve again, not show etc until conditions are prime?
Im not sure exactly the details of your plan here, but theres no nuance of "not show up part" as it affects the priority reservations. That's more of a discussion point on the close-in weekof reservations.
I'm going to lay it out how I see it. My only intent here is to try to help clear up any misconceptions so you don't mess up your season. If this is unneeded advice feel free to disregard.
The priority reservations is this timebased priority access of 7days in far future anywhere in the season and not close in. Once that comes up whether you show up or not or not, you get those 7days back to your pocket to reserve again. So not showing or showing up as of now doesn't give you neither extra benefit nor penalty.
However, as the days roll past dec8 we're now in the season and dates are all chosen by all the other passholders and opened up to day tix purchasers too. there is no guarentee that there are free future dates for you to now claim with your returned priority chits if you decided not to use your original picks. Especially after the 8th when they open this up to the public to buy tickets the caps might start hitting.
You get back your reservation days to reuse, but they are less valuable the 2nd time through.
So you better pick the days now that you truly don't want to miss (or your first days if everyday is the same), they don't "save" anything for you if you decide to not show up or cancel your ressy.
Their biggest value is the early access to reserve before dec8 when the general public potentially fills in everything else with single tickets purchases.
In skiing terms, this is now like 2nd tracks run after everyone else claimed what they want to do in their first tracks run by dec 8. If you choose to not take your first track run and just loop back down, that's on you, they arent going to roll back time and reset the whole slope just because you changed your mind, you are stuck with only the scraps to repick from what is left.
Finally the weekof closein reservations is like twice picked over scraps. If theres extra capacity its a bit of a free for all to claim any unused slots. Yes you can just do rolling picks and pick every closein day no penalty announced at this point if that really is what you want to do. If there is space on the mtn you should feel free to go and they welcome you. This has less to do with the priority ressys and 7days which is future reservations.