All of the Amex cards' benefits in the first year far outweigh their cost so you cannot lose.

It somewhat comes down to your travel habits in so far as if you are flying a lot domestically in smaller stations with an MLL and you have no status then this could work best for you. Generally, at least for my uses however I would rank the other Amex cards much better:

- Amex Plat - Best for perks - Many more free statuses for hotels, 60,000 sign up can go to AP, BA or other programmes - $200 credit per calendar year hence 2 in first year of membership (1 for 2013 and 1 for 2014), worldwide lounges through Priority Pass, Oneworld Gold level status. $699.

- Amex Gold - Best accumulation - on top of the sign up of 25,000 currently you get 2 MR per $ on gas, grocery, pharmacy and travel and they super add up. First year free.

Amex Aeroplan Plus - Best free sign up - 30k AP on a free card sign up is a game changer.

Amex SPG - Best flexibility - 21k points that can go 1:1 plus > 25% bonus to 30 programmes, or good value for hotel rooms.

Amex Aeroplan Platinum - Not really the best of anything but it will suit a few people's travel habits or comes in useful to rotate with a regular Platinum. $120

Worth noting that from many people's perspective the Amex lounge in YYZ is preferred as a much quieter environ than the MLL. I usually visit both as I like to shower at MLL.