For points/awards, I think that Marriott is still up there. Additionally, their consistent level of product quality is a big plus.

However, I wonder how they will deal with announcement of Starwood's top tier status requirements. As of 1/01, requirements for top tier elite status are:
Marriott: 75 nights
Hilton: 28 stays/60 nights
Starwood: 20 stays/40 nights
Hyatt: 25 stays/50 nights

Starwood's no black out on award stays is starting to look very tempting.