There are only 25 of the biggest one. I'm going to try to buy as many of the different promos as I can. Probably so are 90% of the people on this forum.

I expect that to be gone REALLY fast. Like, if you click on it as soon as it goes live it might be too late. So good luck, but I wouldn't count on getting one.

And, no, you can't cancel any time before check-in. Every hotel has its own policy but it's generally in the 24hr -14 day range (14 days is rare, but you see it at all inclusive resorts. I have a stay at the Zilara in Cancun where if you cancel within 7 says you are charged for the whole stay, and in the 7-14 range your are charged 50% of the stay.)

The award booking have the same policy as the standard bookings.