I think the Leaders Club is going nowhere since their "relaunch".
Benefits now only apply if the hotel was booked through the leaders club hotline.

The "old" LC was much better, as the benefits were not linked to the channel used to make the reservation.
I received some nice room upgrades at the Peninsula in Hong Kong.
Now I book through Amex Centurion desk and get the same (if not better) benefits using either the Centurion rates or the FHR (Fine Hotels & Resorts) rates, which are available at most Leading hotels anyway.