I would say that only you can truly determine what the value of any status is. I enjoyed the ability to offload problems onto the Ambassador and let them do the heavy lifting, whether it's an incorrect bill, a service failure or missing points. It's nice to be able to dash off an e-mail and not spend indeterminable time on the phone. I also have a bad back. When traveling internationally, the ambassadors will reach out to the property and determine the type of mattress. But these are things which are specific to me. The other advantage is that Ambassadors will, with a little (or a lot) of prodding, reach out to the property and attempt to get me a complimentary upgrade prior to my stay.
In general though, It really depends on your stay pattern and do the perks associated with your status elevate your travel enjoyment. For me, some of the best perks are
- Upgrades to suites. I am routinely upgraded to a suite, both domestically and abroad, although I will actually the front desk for a specific suite when I don't get upgraded.
- Free breakfast - Some hotels have scaled back, others are still very respectable. A buddy and I recently stayed at the Marriott on the Champs-Elysees. I believe the buffet costs $29/pp. We ate there every morning for seven days. That was a 400 euro savings. But if you don't eat breakfast...
- Late check-out. When I'm on vacation, not rushing for a noon check-out if fun, although I don't know if I'd put a dollar value on it.
- Enhanced internet is nice as I travel with a Roku for watch television
- And the ability to get rules bent, e.g. cancellation deadlines waived.