The PM benefit that I use - award redeposit. Very useful when I'm not 100% sure if I need to travel a particular date but want to have an itinerary, just in case.
The way it works is to hopefully, grab a low tier award trip and watch the pricing game play out. If revenue fares remain low and 'still need the itinerary, PM/DM has until T72 hours to cancel and buy the seat. Otherwise, I just fly the award at a great return for the miles spent. I guess you can call it "hedging" fares? Particularly, summertime and popular travel holidays.
Dunno your route but 60-70% UG is pretty good for GM. As PM my usual NYC-JFK, mostly off peak business days, I'm just shy of 80% UG for the year. When I was Gold a few years ago it was about 50% and by now with tighter inventory, I'm sure that figure would be much lower.