Transition for awards
The transition for earnings is simple. You can top off your last 16-credit Standard Award at the ratio of 1200 points per credit. At that point you get a Standard Award. From then on, you can only earn points, not credits.
You cannot transfer any Standard Awards into points. Your Standard Awards will expire, but they can be extended for $50, as provided by the current rules, if they were issued before the announcement of the new program.
This is a really, really fantastic synopsis. I'm glad it's out in the public now! My only addition is that the extension of any existing awards may only be made once. So, after your one-time extension, you cannot reissue the award again if it expires again. Reservations and standard award rules remain the same.
Hotels=600 points
Rental cars=600 points
Rapid Rewards Dining=3 points/$1
Groups tickets will not earn RR credit. SW Vacations will earn a flat 1500 points after completing the whole round trip (canceling the return will receive no credit). Also can't remember Teleflora, but I would venture a guess that it's 600 points as well?
The opinions expressed here are mine alone and do not reflect those of Southwest Airlines, SW's directors, board or employees.