Like CPRich, I agree that FF programs have gone downhill for frequent fliers. We're at a point where taking a dozen paid flights earns less miles than sitting at your home computer for 10 minutes filling out a credit card application.
The Flyer Talk boards will really light up when inflation of miles shows up, as it inevitably will. Will award mileage increase? Will availability become tougher for those who don't have status? Will fees increase? I don't know but my guess is yes to all of the above.
I also agree with the comment about what FT used to be before it devolved into a twitter substitute: "Gee, I sent my app in 15 minutes ago. Do you think I should call to see what the hold-up is?".