Well as a longtime Ambassador the main benefits to me are the 4pm guaranteed checkout and the $20 food and beverage credit. Basically if you stay twice a year at an IC hotel it's worth it. Also, it's unadvertised but on renewal you can choose to pay 50K points or $200USD. The secret here is if you renew with cash, they give you 15K in points (it used come in your renewal package as a certificate with a number, now it's all automatic or was last time I renewed) back worth $75 so after the first year, it's only $125 a year and thus worth it for many more than belong.