All of the above. I researched a flight for May way back in December. I had checked on a Monday and

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So we fly across country to see DHs family 2 to 3 times per year. Up until last year, I'd book whatever flight rv travel trailer covers was cheapest. I got pretty good at finding the deals. Recently, SW added non-stop service to DHs hometown, so we signed up for the Rapid Rewards card since we knew we'd be flying them much more often with that service. Anyway, we've flown SW before, but I'm not as familiar with them as some other airlines yet.
First question. I've been looking at fares for July. I'm hoping to get tickets in the $250 range (which I've seen/booked before on SW) but with gas prices rising I'm getting nervous. Last week the fare was around $315 and this week they went up to $400 RT. My question is about changing a reservation. So let's say I book at $400 and the price drops down to $315 again. If I understand their policy correctly, no change fees apply. What about the difference in price? Do I get a credit/voucher (couldn't find any detail on this on their site)? If so, what would stop people from just booking rv travel trailer covers their preferred dates and then changing whenever the price drops? Do people that fly SW frequently do this? If you book with points, and change for a lower fare, do they refund the difference in points?
Second question. The airlines we've flown with most in the past usually drop their prices rv travel trailer covers 2 or 3 times/year on our specific route. I've been known to book tickets 6 to 9 months in advance to take advantage rv travel trailer covers of the deals. Any sense on SW fare changing trends/when prices drop?
Just input your confirmation number, go to Change Reservation, keep the same dates, and look to see if fares are lower. If they are, go ahead and make the change. The dollar rv travel trailer covers difference in fare will be kept under your name for your use within a year.
I try to fly SW when I can for the very reason to which you are referring. If you book a fare and it drops $25 the next day, rebook at the lower fare; there are no change fees, and you will be given a credit with that confirmation number. If it goes down $25 the day after that, rebook. You would now have a $50 credit that can be used within a year.
All of the above. I researched a flight for May way back in December. I had checked on a Monday and it was just over $200. When I went to book it, it had gone up over $150! I was afraid to wait so booked it then. I happened to check again during one of their sales and the same fare had dropped to under $200! So I re-booked at the lower fare and paid for a new trip with the difference (plus a little)! You do have to use the credit for the same traveler, though.
One thing to keep in mind - the $$ credits you get if and when the fare goes down can ONLY be used by the same person who originally had the ticket with higher fare. {They used to let you give that credit to anyone, but that is no longer the case}.
Check prices every day. When the price drops, change the price (not the flight) and the difference will be kept as a credit on your account for 1 year since making the initial reservation. This is very convenient if you fly at least twice a year.