American Express Membership Rewards - Change to Australian Centurion & Platinum Earned Points rates change (October 2012)

Just got a letter from Amex telling be how excited I should be at how, from 01 Oct 2012, I will go from 1.5 points per dollar spent to a new model that earns...

3 points per $1 at "lots of restaurants"
2 points per $1 on airfares, major tour operators/agencies and overseas spend
1 point per $1 on everything else
0.5 point per $1 on utilities, insurance telcos and governments.

One of the major "pros" for me paying $900 per annum membership is the across the board 1.5 points per $1. I think this change may tip the balance back to making the Platinum card unjustifiable.

What are other Aussies thoughts on this?

Not just Platinum, also Centurion is changing this way. And in exchange, the Centurion fee increases by to AU$5000 (US$5200) per year.

Like in other countries, a significant reduction in MO benefits as more and more properties are giving credits rather than free nights.

Three positive changes are Virgin Australia lounge access (was there before, then gone, now back), free guest for Priority Pass and addition of two hotel elite programs (Accor, Carlson).

Maybe MIA can change the thread title to reflect the broader changes?

Not just Platinum, also Centurion is changing this way. And in exchange, the Centurion fee increases by to AU$5000 (US$5200) per year.

Like in other countries, a significant reduction in MO benefits as more and more properties are giving credits rather than free nights.

Three positive changes are Virgin Australia lounge access (was there before, then gone, now back), free guest for Priority Pass and addition of two hotel elite programs (Accor, Carlson).

Maybe MIA can change the thread title to reflect the broader changes?

Airline benefits are moot for me being Oneworld Sapphire and *A Gold, and I had Virgin Lounge access covered with SQ*G. The benefits were the 1.5 points per $1 and the travel insurance, both now devalued. I really no longer see what I'm getting for $900pa over a Gold card for $90 that I'd place any real value on.