Stayed at the St. Regis Florence last November and started the planning/booking process early and never saw C&P open up. Not that it means it wouldn't, but thought I'd share. I thought the points only option was worth it, used a SNA to get upgraded, service was awesome, breakfast was great, and location is good. As a point of reference, the Westin is literally across the plaza, so if you're trying to save points and the C&P is available there, you might want to look into it.