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