This offer is still around, we just got it. It was for $200 Disney Gift Card after first use; the $40 offer on the Disney site gives you a statement credit, which we also got. This is what happened to us:
Last summer, after signing up for the Disney site, getting the planning CD, etc., we received an offer to open a Disney Visa and get $100. We put it aside and forgot about it. Fast forward to this January, we are in the middle of planning a Disney trip for May, and keep seeing the Disney Visa offer for $40. So we remembered the $100 offer, got it out, but it was expired. We called Chase to see if they would still honor it, they said no. Asked them if there was any other offers out there, they said no. So we bit the bullet and applied for the $40 one through the Disney site. Got an immediate approval, put our deposit on it.
I swear no more than 3 or 4 days later we get the $200 offer in the mail. I was ticked! So I called Chase back and explained the whole thing, and how they had told us there were no new offers, and they said if you call this other number and cancel the first one you can get this one. Well, a $200 gift card is better than the $40 credit, since we are going in May and will definitely use the gift card.
However, when I called to cancel, the guy that answered the phone said you don't need to cancel, you can get both, many people do it. After much debating, I decided to give it a try, and applied online for the second one. Did not get an immediate approval, which made me nervous, but in about a week the new card came in the mail.
I checked online and both cards are good, one shows a $40 statement credit, the other one just posted $200 reward dollars. We'll probably end up canceling one of them in the future, we really don't need two.
I am sorry this is so long, just wanted to share our experience. You may want to try calling Chase and asking for the $200 offer and maybe you will get it.
Heck, I would get it if it was $100 
