Been a while since I've logged in (and might not again for a while, so sorry if I don't reply), but I was using this thread as a resource today so I thought I'd add my experience...
Called in today about the annual fee on my Aviator Red and asked if they could waive the annual fee. The frontline CSR said she couldn't, but I might be eligible for a downgrade to the no fee version. I have a mid teens balance transfer on the card, so this interested me, and I said sure. She transferred me to what was obviously a retention specialist, who said that I could do that, but she could also just waive the annual fee for the year. I accepted the waiver of the annual fee. I did mention the loss of the 10% refund feature.
She also offered, additionally, a statement credit of $100 if I spent $1000 a month for 3 months. I declined that because I am still carrying that balance transfer (and I am also working on several thousand dollars of bonus spend elsewhere).
I have had the card just for the one year, with no spending at all other than the initial purchase that triggered the bonus, the initial annual fee, and the fairly large balance transfer I am still carrying.