FYI, Citi ran a similar deal last year, except only 5k miles:
http://www.flyertalk.com/forum/showt...ght=citi+debit
I can't remember why I didn't do it last time, but glad I didn't. ^

Apparently there were similar ThankYou Network error messages then too for new accounts. Also last time took about 4 months to post. I believe once you convert the card, you don't receive the TY Network points any more which could be a consideration for some people (with Citigold, 1200 pts/month x 4 months = $48+).