Yes, making a reservation using GoldPoints is easily done over the web, I've done it many times (use REDEEMGP promo code). Just present the card at check-in, it used to be swiped but the last couple of times they just made me sign a form. Once I had to make one over the phone because the web site was erroneously adding an additional charge for a reservation over 2 people.

The only part of making a reservation that makes me uncomfortable is that the points are not deducted when the reservation is made, rather they are deducted upon check-in. I have often wondered that, if the hotel had a point redemption change, would the original point amount/award be automatically honored...?

This is a program where the earlier you can make the award, the better it can be point-wise because there are usually two levels of awards, one being less points than the other. Since they don't take points immediately upon making the reservation, I believe you can also make a future award reservation without even having enough points at the time.

I am still concerned, however, about how any of the new rules/regs affect the GoldPoints program (I did a separate thread earlier about this and no one has responded with their opinion yet...)