I would not hold my breath on 100k in Canada, may have been a specific consumer targeted based on spending patterns.

The level of PP which you are enrolled in markets at $399.

2 x $200 travel credits (and I personally had excellent experience redeeming for 2012).

60,000 MRs of minimum value $600.

CX gold, SPG gold + et al.

If you are eligible and travel at all, it is a no-brainer for a first year sign up. Renewal for me would wholly depend on what they offered me to stay. I'm dumping AC and * for BA and OW so I expect to have the Cathay benefit covered, I would miss the lounges sorely though on domestic flights after 2014 when next year's AC status will expire.