I was cruising flyer talk yesterday checking for promotions before I made a round of reservations and stumbled on this topic. I too am very disappointed and am questioning the value of staying with the credit card. My Chase Saphire will get pretty close to the actual room valuation if the rates change at the redeemable top tier properties.
I did go ahead and make a December 7day reservation at the Heaven AI in Samana. I'm staying in a HoJo tonight and at check in I noticed a big box obviously just shipped with Wyndham rewards stamped all over it - I'm thinking that's the new promotional material. I am a fan of the program and have had some great trips sorry to see the great value go away.