I believe it to be a limitation of all BT blackberry models, not just the Bold.
And where did you purchase your device? Your marriage is with them. Regardless of contract term, or lack thereof, your purchase and sales agreement is with the entity that sold you the device, not the manufacturer. Unless you purchased direct from RIM.
Treat your password like your toothbrush. Don't let anybody else use it, and get a new one every six months.