I haven't parsed it and I haven't looked at the other influences that Shendare linked (which probably alter the slope and theoretical x/y intercepts) but, from observations (noticing more or less skillups) and confirming with logging features, what you state is true.
Using the rule_values mod for skilluprate won't have any effect on skills after they reach the x-axis, with the current equation (or any equation, might I add). This varies substantially, as you can see in the graph. Swimming, for example, will never be easy (as it should be?) without scrapping it's coeffcient. Other skills on the higher end will skill up 50+ X faster (with rules set for higher skillups). Doesn't make sense to me.
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