I have two concerns and I'm curious if anyone else has them.
1) In the last week, since the conversion to cxLoyalty, the ultimaterewards website has been horribly, unuseably slow. Tonight it took me like half an hour to book a simple one night hotel reservation. I'm having no speed problems with the main Chase website, only ultimaterewards.
2) Concurring with scott6k above, I am seeing a noticeable reduction in the hotels to choose from. Even some of my regular chain hotels are no longer showing, no matter what date I try.
When Chase switched to Expedia, a lot more hotels appeared, so maybe it should not be a surprise that so many hotels have been lost with the move back to cxLoyalty:
Chase Travel using Expedia
For now one of my UR cards, CSR, is still on the Expedia bookings, and my FU card is now migrated to cxLoyalty, so the degradations are really noticeable to me.