If you have another AMEX card, I think the fee drops to $80/yr.

The key to using the zone companion voucher is to find relatively close but expensive destinations. Flights to Key West (for example), often $400+ p/p (from PHL) drop to about $320 for 2 with the voucher. Even factoring in the annual fee, an average of $200/person to fly into Key West is a deal.

Jeff