I think the obvious question, if you've been following the threads about the deterioration of the FPC program, is why you'd bother. FPC is not competitive with any of the other major frequent stay programs any more(SPG, Hyatt, Hilton, Marriott), so if the loyalty program has any effect on your decision making process, you're likely better off elsewhere. The only situation where I can imagine you'd want this is if you were forced to stay at a Fairmont, either because of corporate or conference constraints, or because you're in a city where there are no other choices.

Starwood, as an example, has hotels that are upmarket from Fairmont (St. Regis), more or less equivalent (Luxury Collection, Westin), and downmarket (Sheraton, Four Points), so you get a lot more choice with a much better loyalty program. Others here have been happy after switching to Hyatt.