We've used our points once in the world passport collection. We did a trip to London and we've used the concierge collection I think about 5 times. Washington DC, New York and SC. We loved each and every trip. The hotels were first class all the way and it was very easy to trade, simply called MS. The trips to NYC & DC were both during holiday periods (memorial weekend in DC, 4th of July in NY) and we had no trouble getting a room. We did book fairly early (Jan, if I remember correctly)
The trade fee is now $100 bucks and you pay that when you book. Some folks are going to tell you, trading out is not an economical use of points but I pretty much figure, I purchased the points to go on vacation and enjoy' nuff said.