By the way, Air Canada is not the first carrier to offer a slate of choice benefits for elite members to choose from.

After United's "Summer From Hell" in 2000, they offered elite members a slate of extra goodies to choose from. It was known as "The Gift of Choice."

Old discussions of this benefit:
http://www.flyertalk.com/forum/showthread.php?t=95656
http://www.flyertalk.com/forum/showthread.php?t=91527
http://www.flyertalk.com/forum/showthread.php?t=91060
http://www.flyertalk.com/forum/showthread.php?t=91015
http://www.flyertalk.com/forum/showthread.php?t=90843
http://www.flyertalk.com/forum/showthread.php?t=90840

Interestingly, United didn't really keep up with the personalized benefits. And their version of it was 'extra benefits' on top of the usual, rather than a menu which traded off with existing benefits.