I typically only pay to stay at Choice Hotels only during the 2 night, 8000 point promotion, and then "cash the points in" when the promo isn't running.
It is worth noting that 5,000 Choice Points can be redeemed for 2 Southwest credits. If Southwest points are important, the 2 night, 8000 point promo is essentially equivalent to the current 1.5 credits per night.

One thing to note. All Choice Hotels are not equal. They vary widely. Very widely. I believe the branded pecking order is as follows:

Clarion
Sleep Inn
Main Stay Suites
Comfort Inn
Quality Inn
Rodeway/Econo Lodge

You may want to do some searching for some travel review sites before booking to prevent some unpleasant surprises.