racookpe1978 ,
While I agree with your point that the load of a treadmill will only be applied via a finite number of feet on a given machine, the fact is, the machine still occupies floor space, so you won't have those 15 or so square feet occupied by other loads. The load from the machine's feet only pose a risk if you are concerned about a punching failure. As others have point out, if you are concerned with this, you should also be concerned with heavy lifters doing squats, who may place 500lbs spread over the area of the ball of their foot.
No load is ever truly uniform. look around your office, desks, chairs, bookshelves, these all apply point loads to the floor, but we don't design for each piece. Watch out for especially heavy equipment, but you don't have to go bananas tracking the location of every little bench and water cooler.
Shaniak raises a good point, I did not realize you were designing this floor with wood framing in mind. I agree with him, connection design and fatigue may be an issue and deserve your attention.
M.S. Structural Engineering
Licensed Structural Engineer and Licensed Professional Engineer (Illinois)