I just got my new Silver card and there was an offer to become Gold for $789.

Does anyone think this represents good value for money?

The only thing I was thinking was that that you could get Gold and then rest easy (not have to do any mileage runs etc the following year) as you are slowly downgraded back to silver in 2011.

Apart from being able to confirm an upgrade seat 3 days ahead instead of 2, I dont really see what the major benefit is.

When would be the best time of year to do this?

E.g. Towards the end of '09 would give you Gold for all of '10 and then silver from Feb '11?

Personally, I think it sounds like a lot of money but I suppose you would not get 50,000 miles for or 60 segments for Gold for $789....