No ForEx fees on the Premier if you travel internationally.
The companion ticket is a great feature, in my opinion. I've used mine this year, and my parents used theirs. Each time we saved in excess of $300.
15% off any airfare purchase is nice as well.
If you earn flight points and TY points, it's true you're essentially stuck at 2 points per $1. But, if you redeem your TY points for flights, you get 1.33cpp and, therefore, 2.66% per $1 (if you've earned flight points).