But if the transfer is 3 points = 1 mile, then you need 360,000 points just to get 120K air miles.
I have two reservations for Thanksgiving week this year, both are (current) Cat 8 properties, so it will depend on how they decide to recategorize them - I hope they figure that out before August! Assuming your numbers are correct, and assuming the current Cat 8 falls to a lower category, if one becomes a Cat 5 then I'm ahead by 30,000 points.
If one becomes a Cat 6, I lose by 60,000 points.
It all hinges on the shuffle of hotels into new categories.
I don't see any point to keeping the personal SPG AMEX, today's announcement solidifies that decision. However, the SPG Biz AMEX will get a
new 4x category for U.S. dining, U.S. gas stations, and wireless telephone services, and U.S. shipping. This category doesn't even show up on the premium $450 Starwood AMEX luxury card. SPG Biz does lose the Sheraton lounge access, unfortunately, for those who use it.