Before the economy tanked, I was a big user of Priceline - probably 75 nights/year, 30 of them in Boston alone. The original $25/night AMEX bonus money helped a lot. I'd stay at the Wyndham Boston or Seaport for $80-$85/night and laugh at everybody paying $229. On weekends, I'd get really cheap stays, sometimes as low as $1/night in a place like Des Moines.

But now the economy is garbage, the bonus money is gone, I have Diamond status from Hilton, and about a quarter of a million Hilton points to boot. Now I spend $115 and stay at the Doubletree Guest Suites and get a 2-room suite with breakfast. The points and Hilton status are a nice bonus, it's the room size that matters. When the economy goes up, the $115 rate will become $175, and I'll go back to Priceline.

Meanwhile, I still use Priceline from time to time, but only in obvious low-ball situations where Hilton's weekend rate or point redemption value is out of whack.