OP presents a very difficult question. Here's what I'm contemplating.

I will use my miles whenever possible this year. I will likely not re-qualify
for AA Exectuive Platinum, but rather will drop to Platinum 01 Mar 2006.

However:

1. I would still receive the double mileage bonus as Platinum.

2. I could make numerous mileage runs (using $$$ saved by using miles in '05) Q1 '06 when fares to Europe are low, and paid buseness trips when possible, with the goal of re-qualifying for Exectuive Platinum early in 2006.

As I understand it, this re-qualification would be good for the
ENTIRE remainder of 2006 and ALL OF 2007!!!!! More bang for the buck. Theoretically, I'd be non EXP only a month, or even less.