The point is that with no effective competition in this area, AC/Aeroplan have significantly degraded the benefits for frequent flyers every single year, for the past 8 years.

On the other hand, the closest comparable airlines (US carriers) primarily due to true competition, have tinkered with their programs, but generally have improved benefits for their most frequent flyers, and not spectacularly degraded benefits for less frequent flyers -- certainly not to the degree that AC/AP have implemented a policy of slash and burn.

My expectations are the AC will:

1. Further reduce the number of or eliminate altogether SSWUs
2. Reduce further I space on many flights/routes
3. Further reduce the number of SWUs in circulation by changing threshold ug certs to every 20,000 miles (at least until well past 100,000)
4. Reduce MLL benefits, possibly by implementing fees or further restrictions (i.e. no guests)
5. Reduce or eliminate renewal "bonus" miles
6. Implement further restrictions on the use of ug certificates (by changing eligible fares and/or ug windows)
7. Implementing further IKK restrictions (possibly by imposing the same restrictions on gifting IKK for NA flights)

While I don't think they will try to push all of these through (at least not all in a single year) this is at least a partial list of things they are considering. And of course they'll use the "times are tough" line to justify many of them.

One thing you'll have noticed about my list are that there are no improvements. They might try to spin some change or other as an improvement, but it will either be so insignificant as to be meaningless, or upon closer inspection will actually be a degradation of a benefit to the vast majority of AP members.