Here is my 2c.

I'd take the *wood. I like the range of hotels that *wood lets me use. It looks like you are not worried about HH stauts so it comes down to miles. I find that if I am lacking in HH points I xfer enough from a CO/DL/LP account to make it worthwhile, no such luck with the *wood.

The option to transfer into HH at a reasonable rate is very appealing to me, while *wood's lack thereof makes the points more difficult to accumulate.

BSL