I'm generally very happy with the program and the hotels; as discussed above, generally the staff is terrrific (with an occasional blip). For me, Fairmont locations are far too limited to allow it to be my primary program (although that does mitigate the diminished benefits after 10 stays). I'd wish for properties in Paris and Milan, first and foremost, and then somewhere along the MIA/FLL/PBI corridor.
I also really miss the Howard in London--I dearly love the Savoy, but can't always stay there. Having a more reasonably priced alternative for earning stay credits there was very useful. (Plus I loved the coffee machines!)