The great Okeechobee Hurricane hit in 1928, killing 2500+ when the dike around the lake failed. The "new" dike is now 70 years old and local news reports from the area are that the army corps of engineers started releasing water from the lake today despite a two year record level drought to "relieve the stress on the 70 year old structure". Faye replenished the lake to normal levels, but apparently they are preparing for a "just in case" scenario.

I too, have heard the stories first hand about that disaster. My grandmother worked for a doctor in Clewiston when it struck. They tagged for a few days, but finally gave up and had large funeral pyres. Incredible to think that wasn't so long ago. She's still living to tell about it.

Okeechobee to Begin Pulse Releases
http://www.sun-sentinel.com/news/local/palmbeach/sfl-0903lakeo,0,6765361.story

1928 Okeechobee Hurricane track (it was quite a bit further south at this point than Ike is now)
http://en.wikipedia.org/wiki/Image:1928_Okeechobee_hurricane_track.png