The first airline that tries to even DEVALUE my FF miles will lose my entire loyalty on principle; eliminating the program would result in me shifting my 150,000 miles/year to ANY OTHER airline but the one that did it to me. And since I'm in control of my firm's other employees' travel, I'll take a lot more than that.

No, the game is set. Forget about it, BBS lawyers/airline apologists; Changing the rules, regardless of their "notices" saying they can, will be a declaration of war by THEM against US. There *will* be a significant loyalty penalty paid by the airline that messes with the reward structure, regardless of legalities. My money's on shorting the stock of whichever company starts to dilute the ff benefits, as I'd predict it will be the next corporate casualty, once those who actually are buying the high margin tickets quit flying for their competitors. And collusion between them will bring down a rain of state Attorneys General, making the Microsoft antitrust case look tame. (there's just too many headlines in jumping on airlines, if they endanger a million folks' imagined or planned vacations).