After much thinking, I think that I will get this card after all. Maybe my expectations are more modest.
I am not a big traveller but I will be doing at least 25 nights/year at a Westin (close to my work site) after I got that particular Westin to match the corporate preferential rate that Marriott next door was offering (my company deals with Marriott primarily). With the bonus points of using a SPG card as well as the occasional deals (such as right now 2x/3x/4x) as well as the 1:1 conversion now, I think that it will be OK to pay for this card.
Also as an experiment, I stopped using my MBNA card as of March 1 and decided to see how many merchants locally (Ottawa) will take Amex (I have a free Airmiles Amex). I found out that I could change some of my spending habits (e.g. Farmboy versus Loblaws for my main groceries). Yes, I won't be covering all bases that the MC so easily fitted but I think that I could make it work. I will also be going through my monthly bills to see which ones I could convert to an Amex.
I really hope that they will give us a year to try it out and also give us at least one supplemental card (for more earning power) for free.
Anyway, right now I am just a bit peeved that we have not received any info about application yet ... come on. Also being back in Canada only recently (after a decade in the US), it was a breeze to get an MBNA card (b/c they could access our superb credit score in the US) ... I am not looking forward to the Amex approval process. Even with our TD infinite visa and with a lot of business with TD, our credit limit was only $5K! Pathetic to say the least.
Will be checking this thread again in a few days to see if anyone heard more about the application or any news.
Cheers