IHG has set up a new page where the EXCLUDED properties are listed:
www.ihg.com/anniversaryfreenight
UNFORTUNATELY, the card art that appears is of the new Premier card, so it looks like that card's annual free night will also be restricted to the 40,000 point level
That list has a lot of properties that are not above 40k. Not sure if this is an accident or if its an impending devaluation.