I think Inner Circle makes sense if coupled with Epicure Plus membership ... Being Delhi based, and when on corporate travel ... it is great to get 25% of in room dining spend credited back to your Epicure Plus account ... cause that is actualy money!
As regard to IC ... mostly agree with above ... Although, I have redeemed points for stays @ Hari Mahal in Jodhpur and Gateway Rawalkot in Jaisalmer!