Same experience.
The floor manager who checked us out a week ago said that they are coming out with a Neiman's card soon, probably 08, and that it will be like the Saks deal where it serves as both your store account and also a regular credit card account, with each side earning neiman's reward points at different rates. I asked if it would have priority pass like saks, and she didn't know. Also didn't know whether they will upgrade existing cardholders, or whether you have to submit a new application.
I guess it's still in the planning stages, but it's definitely coming.