I would agree with most that the best program by far is SPG due to the lack of capacity controls. I am sick and tired of being told by airlines and hotels that I cannot use the points that I have earned. Maybe 3 HH = 1 SPG in redemption value, but factoring in the lack of capacity controls (I do not know how you do that) makes SPG the clear winner.

As to affinity credit cards, SPG Amex is far and away the best.