I checked three sample reservations for December on today's sale, one I'd already booked 10 days ago on a AAA rate and two for trips I'm considering taking. I found:

-- The rates are all nonrefundable. Pfft.

-- The key words are "up to 25%" Some hotels offered 10-15%. At least half offered no discount.

-- At the hotel where I already have a AAA rate booked from about 10 days ago, today's nonrefundable sale price is only a few dollars cheaper than my existing, fully refundable reservation. Not worth changing.

Bottom line: Meh.