For $250...maybe.
You'll get some 500 mile upgrades, but those aren't a big deal. What you will get that's worthwhile is 100% RDM bonus on every flight as well as complimentary upgrades to MCE or preferred seats on domestic flights. You just missed a really awesome promo for platinum status unfortunately, but anyways here is a link with the major benefits broken down by status on AA:
http://www.aa.com/i18n/AAdvantage/el...fits-chart.jsp