Don't forget that you also get a 7% annual bonus on all the points earned from your Chase Sapphire Preferred card.
I like the UR points a LOT. They are very flexible for both cash back as well as rewards points. If you also have a Chase Freedom card, you can combine the UR points earned from both cards. It's nice to use the Freedom card for the 5% rotating categories.
For me, the CSP card is a keeper.
The 2x points on Travel and Dining, as well as the 25% bonus on redeeming flights with UR points make it worth it for me to keep this card. Also if you read the fine print regarding travel insurance and protection, the CSP card offers a lot of benefits.