Starwood Elites: Don't Forget To Sign up for Rewarding Returns by Dec 31

I nearly forgot to select my gift for staying 5 stays between July 1 and December 31, 2010. Link. Your choices will depend on your elite status and activity at the time the promotion was generated. My choices were:

4,000 bonus Starpoints
With Free Night Awards starting at 2,000 Starpoints® at Category 1 properties, you'll already have enough for a night away.

$50 Award Certificate
Redeem for on-property indulgences during your next stay, including spa treatments, room service and more.
An earned Award Certificate will be mailed 4-6 weeks after fifth eligible stay to the shipping address we have on file in your SPG profile.

25% off redemption
Get away sooner using fewer Starpoints. Take 25% off a Free Night Award redemption of up to five nights at any Category 1-5 property. Redemption must be used by 7/31/11.

I ended up going with 4,000 Starpoints, because I'm not sure if I'll be taking a lengthy points stay by 7/31/11 and I usually like to hop around on trips and use cash and points. In my eyes, 4,000 Starpoints are worth at least $80 (and realistically more like $120-150) so the $50 gift certificate was a clear no.

The great thing about the point discount is that you can use it on a 5th night free award since Starwood gives the fifth night free when you redeem 4 nights.

So that means you could redeem 4 nights at the St. Regis New York at 30,000 a night (120,000 total) and get the fifth night free. If you chose the 25% rebate, you'd get a discount of 30,000 points, so a total of 5 nights at an $800+ night hotel for 90,000 points- not too bad, though I've done better, especially with Cash and Points at European properties.
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