Because it's "free," I won't look my new MR Gold status in the mouth, but I'm struggling to see why it means very much to me (or anyone). As I understand it, the significant benefits include the following.

A special reservation phone line in an age where everybody does everything on-line and, come-on, how terrible is the regular reservation line really?
I'll get a 10% discount on the overpriced junk in the giftshop.
I might get a free continental breakfast, assuming the property has one.
I might get a bigger/better room, assuming one is available.
I might get to check out late, assuming that's available.
I'll get access to a lounge, assuming the property has one.
Twenty-five percent bonus points. Finally something of value.

What's the big deal? What am I missing?