I couldn't agree more and I've noticed very little difference between standard Gold, 5*, and PC. I get my so-called "guaranteed" PC upgrade about a third of the time and I get a car parked in a PC space about a third of the time. I'd say 20% of the time I get a car that's not even under a canopy, and I can think of only one occasion recently when the trunk was open and the car was running as I stepped off the bus. It's pathetic.
You would think that Hertz would clue into the importance of these status levels, given that most of the people who qualify for them are business flyers who are accustomed to promises reigiously kept by airlines who have similar recognition programs.
At the very least, one would think Hertz would put some kind of notation on rental agreements (as airlines do on boarding passes) to let renters know Hertz hadn't forgotten about their elite status.