Thanks so much for all of your excellent, thoughtful replies. Posting my query in the Hyatt forum, I suspected that all of the replies would favor the GP Diamond program (confirmed by your posts), so I guess my real intent was to find out why you prefer GP.

One benefit no one addressed is the ease or difficulty of point-based award redemptions. I know that award stays can be pre-booked even though the required points have not yet banked, but it seems to me that the standard award is often limited to a weekend day. My (limited) understanding is that if I want to stay on points during the week, I have to redeem at least 3 nights' worth of standard awards or use 60% more points for a one-night stay.

Thesilb mentioned that Hyatt is currently running a 15k/10k-for-5-stays promotion. I could not find it referenced anywhere on Hyatt's Website. Could someone post a link to the promotion?

Thanks.