My strategy is similar to daveinsf above. We maintain diamond status by doing one night stays in Hamptons or Garden Inns when traveling in the US. We get the bulk of our points by using our Hilton AmEx card almost exclusively. Then we spend those points at Conrads in Asia or the higher end Hiltons in Europe with GLONP or AXON awards. I love getting a nice room, but more important is the Executive Lounge with free food and internet access. Perfect!