Welcome to FT, UA1K4EVER!

I once thought that type of moniker could describe me but no longer. First of all, realize that UA backed down on CR1's for 2011 only because of the heavy protest, not in spite of it.

Second, I think you are right -- CR1's and SWU's are now of dubious value. At least they are for me, as my use of these instruments is to gain confirmed upgrades at time of booking, and there is no indication that UA will retract the huge reduction in confirmable upgrades (apparently to zero on many routes) put into place about a year ago.

That's the main benefit of 1k for me; the fee waivers and red carpet are minor.

So if UA awards a benefit that can't be used, is it really a benefit? Not for me, and that's why 2010 will be my last year as a 1k.

Finally, what makes you think that this will be the last devaluation? History suggests otherwise.