I think I will end up going with the Chase Sapph. Figure 10k a year on restaurant spend gives 20k points plus the 7% dividend for another 1,400. The 50k sign up bonus is also a big factor as that is a lot of points. My plan would be to transfer those to CO miles, but I'm not totally sure what is going to happen with that once CO is fully merged with UA since it is MP and United that are surviving. I travel mostly united for work, so having these points to top off that account is enticing. Assuming double points on dining with a $0.03-$0.04 value of miles, I'd be earning a 6% to 8% return. Should work out to a $600+ return per year which justifies keeping it and paying the fee.