I don't ascribe any value at all to the offers (none of which I've ever taken) or the Concierge (which I've never used).

For me the value is in the hotel statuses, the Priority Pass with unlimited use (and +1) and the travel insurance.

I do a lot of cheap short haul flights on my own account (but don't normally earn enough status miles for *G) so the Priority Pass is great to have and this would cost around £250 anyway. The amex PP is even better than the Prestige because you have +1 also.

The insurance is probably even more valuable. I pranged a rental car in South Korea while driving round Jeju Island. When I got to the airport all the recognised providers were out of cars for the next 24 hours so I ended up hiring from a local backstreet operator. The rental agreement was printed off (on what looked like an old Epson dot matrix printer) in a mixture of Korean and Konglish. Any insurer worth their salt could have driven a truck through it - my first name was missing and no ID details such as Passport number were included. I submitted it in the claim to Amex/AXA and they paid straight off the bat. I'd already mentally written off the £200 damage charge but thanks to Amex I got it settled in full... in less than 1 week!

So finally there's the hotel status. Free breakfast w/ Hilton is great as they're not my main choice so I'm unlikely to get status with them. Well I could get it with a status match but I wouldn't be able to keep it.

If you're not a frequent traveller then I can see why it wouldn't seem worth it but for those that are this card has genuine value.