Appreciate your asking.
Here are my 2c.
First - I think your offer will be fine for me.
Second - I prefer to maintain current system of choice. Since not all hotels have a uniform kind(s) of welcome gift, I don't want to default to either. Besides, my experience told me that most international properties offer "better" welcome gifts. Hence I would opt for the gift. Domestically, most times, I choose points. Experience from a recent stay ina FS in San Francisco., I ended up with half of a banana and few slices of apple, that's was my plat welcome gift.
Anyway, thanks for doing the survey b4 implementing. Hope more FT will provide feedback on this.