Mixed feelings about MyEliteRate. As a regular guest, it was a nice option to get the advance purchase rate without having to pay straight away, although BRGs are generally cheaper.
However, as a travel consultant, 95% my clients have at least Platinum status. The MER is non-commissionable (although it doesn't say it is) and caused me a headache on quite a few occasions before I realised this. It isn't ethical to book a higher rate just to receive the commission, so this dropped my Hyatt earnings significantly. Financially overall, I am better off without MER.
I think the idea of a diamond cancellation fee waiver would be great. Even if it was so that advance purchase rates could be cancelled until 2 weeks before booking, that would help. It would also be great to have the option to delay paying an advance purchase rate until nearer check-in date.