Well you're right about that 1% being garbage. Average is 1.5% with good being 2% and others having up to 6% on rotating categories.
Entering into the points game is not for everyone for many reasons. Some it won't be worth the time to get the rewards and others don't want the points they'd rather have the cash. 2% cashback on 50,000$ spending may be more worth it for you while 50,000$ in spending under certain points rewards programs would give someone like myself more options to get what I want out of it.

I wouldn't go right for the Amex Platinum unless you'll be using the benefits. The platinum can have a large signup bonus but earning rates are typically lower than the Premier Rewards Gold card. I personally have the Amex Everyday & PRG cards and after having the Green card. The PRG card works rather well for me as almost 95% of my spending is airline related, grocery or dining which all earn in the bonus categories under the PRG card program. Throw in the 200$ over 2 years in airline fee and no first year annual fee it can be seen as very attractive whereas the Platinum does not have the waived fee.

Chase's program with the CSP that your wife already has it a very popular card for travelers. Bonuses and usage of points tend to be seen as attractive to people that play the points game.

Think of what you want out of the card, what it will take to get there and then compare it to getting cash instead. If you do venture into the points game be sure to consider which airline you'll be redeeming through and on which can be two different things.

The credit card forums here on FT have a lot of info in the WIKIs to get you started. The amount of info can be intimidating and frustrating. Come up with a plan and come back to ask for people's opinions. You'll get a lot of them.