Here's what I did -

I signed up for 2 Citi Platinum AMEX cards (one each for me and fiance). I think we will each be able to amass close to 100K (200K total) per year with the 5/3 deal plus the sign-up bonus so it seemed worth it to get 2 cards at least for the first year. Plus, the AMEX benefits are nice (namely PriorityPass and concert ticket access).

I also signed up for one PP/E card so that we could earn miles on flights as well as have a non-AMEX option for vendors that don't accept it. Perhaps this was a mistake though and I should have gotten PP (non-elite) since our non-AMEX spending will probably be closer to 1/3 of our flight points. Oh well, we'll probably want the PPE for after AMEX 24-month promotion anyway.

Btw, I don't think that one needs the PP/E for the fixed flight option b/c I think one can just add an Expedia.com account as a sponsor account to a TY account and that qualifies as well.

So, in total for at least a year or two I think we will be earning 200-240K TY points per year. That is double what we'd earn with CapOne and as someone pointed out, TY points are worth more than CapOne points anyway.

Thanks for all the helpful replies!