I called the Santa Monica Equinox here in SoCal to inquire about Amex Plat benefits. I was told that the activation fees would be lower, but the monthly fees would remain the same and that I would get spa and personal training benefits outlined here:
http://www.equinox.com/Join/Default_...?card=platinum
One of my benefits at work is discounted access to Equinox, including a big reduction in initiation fees. Given that I don't want spa access and don't value personal training sessions as much, it made sense to not use the AMEX benefit. That said, the manager of one of the clubs in SoCal was willing to throw in the AMEX benefits at the discounted, non-AMEX rate (company negotiated rate), as long as I paid my monthly fees on my AMEX.