I went ahead and pulled the trigger on this. Ultimately, SQ doesn't allow buying points (VS does) which sealed the deal. As much as I'd enjoy a few free nights, it really came down to the conversion being one of a very few avenues I have towards piling up points there. It isn't quite the 1:1 of SPG (which I'm avoiding right now for what should be obvious reasons) but at this point it's better than nothing.