To add a more current experience:
I called and asked to have the fee removed from this month's bill and was told a definite no. I then tried to encourage a point offer by saying that "I would therefore like to cancel the card". Well, instead of a point offer, the CSR gave me the fastest and easiest credit card cancellation that the world has ever seen! No kidding, in under 30 seconds my card was cancelled and the CSR was saying "Have a nice day!"
It's just my luck, every other credit card that I have tried to cancel in my life turned into an hour long struggle of convincing a dozen people that I really didn't want the card anymore, and then the one time I don't really want to cancel is the one time that they don't give me any hassle!
Oh well, I'll wait a few months and then apply for a new one. Maybe I'll even get another sign-up bonus.