The upgrade certificate can certainly represent good value, if it works. The main issue right now is that there are too many exclusions (rate wise) and even for rates that should work (like "some" corporate ones) the experiences are a very mixed bag which tremendously diminishes the value. If it continues to be such a headache to use (availability of said suites aside) people won't be happy with what they got from IHG and it may cause the opposite effect - frustration instead of "elation" .

A few months ago I took the 5K points as my 20 nights milestone award as those at least were / are tangible while SWU use was and sadly still is in sort of shambles.