If possible, cancelable reservation is preferred. At least we know what is the maximum price. Should anything else come along less expensive (for the same or better deal), just rebook and cancel the previous reservation.

You mentioned Titanium status - it will likely go a long way there. Once ready, I'd email the hotel GM with upgrade inquiries etc. For June, I'd guess that prices will only go up as the arrival date approaches.

The Augustine is also available via Amex Platinum Travel with USD 100 food and beverage credit, room upgrade, early check in, 4pm check out and daily breakfast for two. This is booked through Fine Hotels and Resorts, Amex Platinum required.