Wow! My First posting, actually the first time that I have something to say on this site.
I switch my card from the Citi Driver's Edge 2% cash back to the PP card and found it actually more rewarding since I collect also Asia Miles (although haven't transferred any yet). Though I have enough to get a free upgrade from YYZ to HKG.

It was a much better deal than the RBC CX card at a fee of plus CAD$120. I didn't see any additional value for the extra benefits (Marco Polo club etc.)
As you pointed out the Citi card is free so who can beat that. ^ The 2c/l savings is not bad either but it was NOT my primary reason for getting the card. In any event, the pp card is my back up card in case they don't accept my beloved Amex card.
Cheers...