My guess is that we have not seen the end of the increases in redemption rates. In particular, I would think that things like the lower levels for KL J will be gone, and that we will see the BF rates become the de facto for all/most J tickets. Maybe they will even call it an "enhancement" as it will clear up a lot confusion with the reward charts. Of course, this is idle speculation, but you asked for it.

As for benefits? My guess is that we could see some increased availability with the change in their mileage valuation, but I'm honestly not holding my breath - as tight as award availability is, I don't think a 5% increase in their internal valuation is going to suddenly unleash a torrent of free seats. But my guess is that their biggest enhancements will be things like priority standby for elites and award availability showing up for AF, which I would categorize as "system improvements." They will be nice to haves, but I don't think we will see anything that will dramatically change the value proposition of OnePass in a significantly positive way.