The responses on this thread to the dropping of the 500 eqm minimum are a mixed bag. This group is probably more sensitive to these changes than Joe or Jane Average OnePass Elite.
I do not forsee CO backing away from this unless AA does not join CO and UA in making the change and CO sees a drop in bookings. Even then, the average flyer who is impacted out of CLE, EWR and IAH may not realize what has happened until long after 1-1-09 when he/she looks at the CO OnePass statement and thinks "what happened?". If AA does not perceive any surge in short haul flyers fleeing to it from UA and CO, it will probably follow suit.
As for myself, I have already requalified for CO Plat for next year. I have two and one half trips still purchased from CO, but since this thread was started, I have decided that I am not going to reward CO what I think is bad behavior. For the rest of the year, after the booked trips are flown, I am flying AA except in those instances in which flying CO is impractical. My luck, AA will match CO and UA, so I will probably end up splitting between the two next year. I do not labor under the illusion that my shift of my flying will somehow change CO's mind, but I still have the small satisfaction that I am rewarding AA for so far not following the herd on this benefit reduction.