This is a pretty big downgrade ... Avis Presidents Club is one of the main reasons I keep my Presidential Plus card (as a lifetime UC member, it only costs me $100/year). I love Avis, and the two class upgrades are fantastic, but most importantly, the 30% off standard rates beat even some of the best corporate discounts I've seen; it often makes Avis cheaper than Enterprise and the other deeply discounted options.

I hope it doesn't apply to Presidential Plus, but it seems unlikely that PP would be spared.