I still find the card advantageous due to the frequent offers I regularly get. $200 off $200 spend at YYZ duty-free, $100 off $100 spend at Birks, 25% off $1,000 spend on hotel and car rentals, $300 off $900 spend on hotel and car rentals, and the FHR program. I have used almost every offer, cherry picking hotels that are priced as low or lower than elsewhere. Last year I recouped more than the cost of the annual fee. The PP lounge access is valuable, but as I also have access to *A and ST lounges due to status, it's not really a deal breaker for me.