I will offer a counter-example to the conventional wisdom.

In previous years, in order to hold down costs, I would book rooms based on cost.

We proposed, for example, a $200 a night hotel budget in NYC to a client. In 2009, I was able to average less than $200 a night in NYC over 13 stays but staying at the W on Lexington, Sheraton T.S., 4 Points Chelsea and occasionally, W TS and W US.

As a result, I have booked directly through Starwood rather than forgoeing credits to book through Priceline or another chain for the rest of my travels to pursue Platinum (which I will hit this weekend)...

That said, I still say that any promotion if it exists, should offer options... as different folks have different strokes.