as a current SPG Amex cardholder, I have been on the fence between this card and the Surpass card from Hilton.

the only thing keeping me with *wood is the Cash and points feature. However, this does not count towards a qualifying stay. But, then again, Gold is essentially worthless with SPG (not even free internet!!!). I have had good luck the past few times at an SPG property, though, whether it be a room upgrade (DFW Westin) or small incentive on an award redemption (free breakfast and $15 bar credit at Sheraton Downtown Nashville).

then you have Hilton - with a lot more properties worldwide, and much better Gold benefits. Redemption levels are much worse compared to SPG, but you do get lounge access and double-dipping.

it's a legit toss-up for me, still :/

FWIW, SPG raised it's annual fee but does give you a 2stay/5night credit upon annual renewal per year.