As one of the LTT's that earned by combining SPG and MR, I didn't earn any of those nights with credit card bonuses. It was 1000+ nights of butt in bed, deliberately staying at those properties for the benefits that were useful and appreciated by the weekly 4-5 night/week road warrior. That being said, I'm in the camp that rarely sees much in the way of room upgrades without asking. And even then, I can't remember the last time I got a suite of any kind. Usually it's a higher room with better view. Sometimes a larger corner room. And recently, a larger King room with a larger L-shaped sofa sitting area and a balcony. Like airlines, I don't really value status for the hope of an upgrade. I do value the other facets like free internet (in hotels that otherwise charge), 4pm check out and the F&B credit, among some others.

For the LTP's that somehow feel they would get better treatment as an LTT, I think they will be disappointed to find that the grass really isn't greener.