A while back I asked them via SM if it would be possible to PC to the Elite card (I have Premier). I was told no, but the response also implied that I would be able to apply for an "upcoming" new card. Who knows when that'll happen though?

It'd be a shame if some other issuer took control of the franchise in any case, because the consumer cards are probably still the best of the "true" chip and PIN options. I can totally see some other issuer switching to chip and signature for Diners Club simply because it's the "standard" card configuration for the US, for instance. Even if PIN's kept, they could do something like kill points transferability and turn it into a simple cash back program too, which depending on the earning/redemption levels may make the card worse than average for cash back cards. I guess we'll have to see what happens over time.