I've done both.... Pre-9/11 in the AMEX bonus money days, I used Priceline for about 7 nights every month. In fact, I was one of the first moderators on what eventually became BFT, although I had to drop out early in 2002.

This year will be my first year with only one Priceline stay - a three-night $40/night weeknight rate at the Hyatt Regency Houston during the June Cubs-Astros series. I'm going to end up with about 80 nights perfectly split between Hilton and Starwood to achieve top-tier status in both programs.

Why did I make the transition? Because the economy couldn't maintain the most inflated rates in all but the most expensive places. Big-city properties where I had no chance of staying at in 2000, I'm now picking up for $129-$170/night compared to around $80/night for Priceline. And smaller properties such as Homewood Suites that I'm getting for $99-$109 instead of a generic 2.5* for $59. Add in the nonrefundability, a few questionable ratings by Priceline and everything that comes with status (nice upgrades, etc.), and it just isn't worth it right now.

But I'm willing to bet that in three or four years, I'll be back giving at least half my hotel budget to Priceline.