There already seems to be a lot of misinterpretation of the new guidelines-- I've read several (admittedly dodgy) internet sources that are stating that a 3+ hour delay will qualify for a full refund AND rebooking to the next available flight. I hope the actual rules are clear by the time they go into effect or there will be a lot of people that take the $ and then find themselves stranded.

I've also read (from less dodgy sources) that the 3+ hour refund will occur ONLY IF the passenger chooses refund vs. rebooking, and cancellation/refund will not happen automatically after a 3+ hour delay. The "refund without request" is in reference to airlines defaulting to airline credit vs. refund to method of payment, and not that the airline will cancel and refund the flight without consent from the passenger.