From the T & C:
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Upgrades to a Preferred Room at the time of check-in based upon room availability. Preferred Rooms are identified by each hotel property and are superior standard rooms which might include rooms on higher floors, corner rooms, newly renovated rooms, or rooms with preferred views.</font>
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Is the intent of the new wording that Golds (based on availability) are entitled to an "upgrade" to a room that is sold at a higher rate than the one booked normally or to rooms that are usually made available for an upgrade with points? If so, SPG will sink down to the level of HH in non-compliance. If that is not the intent, you should let your marketing folks know that they have made some very misleading statements on the Gold benefits and that is not appreciated by people that seek honesty in companies that they do business with. Thanks.</font>
I find it very clear. "Superior standard room" means just that. Sort of like UA's E+. It's not sold at a higher rate. I have several times found a plaque outside the door designating it as an "SPG Preferred Room." It doesn't look to be upgradeable by points, either, since it's still a "standard room." But I was happy with mine!