This is a big benefit for my travel patterns, but I expect we'll be paying more miles for award tickets. My last LHR-IAH trip was about $6700 PQDs and I earned about 26,600 RDMs as a 1K on a C fare. According to the calculator, I will now earn 73,700 RDMs or possibly hit the 75k cap depending on class of service bonus so I'm earning almost 3 times as many RDMs.
My predictionis they will add a 3rd tier to the redemption options. They will keep the saver award level, but availability will be next to impossible to find. They'll have a new intermediate tier with availability on par with current saver award availability and then keep the standard award level with slightly inflated mileage redemption levels to what they currently have.