I think they will definitely go dynamic/variable, but probably not for a year or more. They'll need to get Citibank to tighten or get rid of the mailer codes first to cut down on the number of bonus miles you can get (like Delta does with Amex Lifetime and UA with Chase 2-year).
Not that I want any of the "dynamic" stuff to go in.
Hilton was a massive devaluation (IMO), Delta was the worst (IMO). I mean seriously, 280,000 miles for 1 round trip from NY to Hawaii compared to 100k on United and 160k on AA (I think that's what AA currently is now, but I could be wrong--depends on if you get lie-flats or not).