My husband has been elite, mostly platinum elite, since he started working in consulting in 1997. He will hopefully be able to stop traveling so frequently for work next year, which we're both looking forward to... but we will very dearly miss the benefits that come with being elite.
Our personal travel is frequent enough that we'll definitely feel the pain of not having the little perks, but not frequent enough to earn them.
Oh well, at least he has enough miles/points to keep us in free tickets and hotel rooms for years to come!