It should also be noted that there are no bonus points (except for Hilton stays) given for purchases outside of the US. If I buy something at a grocery store, a pharmacy, or a gas station in Israel or Europe I get 3 points per US dollar -- just as I would with any other purchase.
This, combined with Amex charging a high forex fee, means that I will only use it in the future in the States or for on-line purchases that are charged in dollars.
My new BoA Travel Rewards card (no forex) will be used instead.