In the past few years I've always received my packet about 4-5 weeks after crossing a threshold. I hit PM in November and I got my package right before the first of the year. (2011 Packet)
Last year I got my first 2011 package around mid-late Feb. I expect the same this year.
I've always received a full packet. My PM package included the drink coupons, job well done certs and my new tags.