I'm currently at the GH HKG staying on free night awards. As a Hyatt Diamond, you're treated quite well. I've got a nice harbor view, free lounge access, free internet, etc.
Considering that I paid about $80 per "free" night by staying at cheap HP's in the US, plus I got a bunch of AA miles too, it's a superb deal.
I also like the IC Grand Stanford. Again as a RA, I can get free club access and such, even on cheap rates. I had absolutely great service at the club on my last trip there, and will be heading back over the weekend.
Without status, it makes it a lot harder. I know I'd pay about $600 US per night for my Hyatt stay that I'm currently on. I'd be hard pressed to pay that much outright.