As a reminder, the Select still offers 10,000 PQM/year (5,000 for united.com purchases and 5,000 PQM for the $35,000 purchase threshold), so it is a good card for those who are dollar-rich but PQM-poor. And those are unrestricted PQMs (i.e. they count toward 1K).
But the card is, of course, only for those grandfathered in.
As far as I know, the Select Visa does not award 5k PQM for $35k spend. That was a feature of the even older Visa Platinum card. I recall switching from the Platinum card to the Select card when it came out because I determined that the Select card was better for my needs (low AF, 3X UA RDM, 5000 RDM bonus).
Old thread from 2009 when the Select card was introduced:
http://www.flyertalk.com/forum/unite...dit-cards.html