I'm with you, man. I'm Platinum Premier and love the perks but my circumstances are different. I send the hotel bill to my company and they punt it over to the client. If I had the choice of paying more and getting the points or pocketing $50/day after tax I'd probably take the cash. Look at it this way...if you've got points here are your options:

1) Take a vacation
2) Use them for room upgrades
3) Use them to purchase overpriced merchandise on their web site

Cash is king. You can use it for anything you want.