I can't tell you if you're "happy" that you booked a paid rate instead of getting a C&P award, but if it makes you feel better you did the right thing if you're not flush with SPG points. Not sure what tax is in SF, but assuming it's 15%, you're out $187.45. The cash part of C&P is going to cost you $103.50. You would have paid 4800 points to save $83.95, giving you a value of 1.75 cpp, which is pretty bad. (I think you can get 2 cpp without even trying, 2.5 cpp is close to average, and you can do better than 3 cpp if you're just the slightest bit choosy.)