It's a high annual fee card, but it gives cardholders virtually everything elite status does, minus the upgrades. It also offers opportunities to earn status (up to Premier Platinum) through spend alone.
I carry it for the (full) United Club membership, Avis benefits and little else. Spend-based flex PQMs don't count toward 1K status, which I earn anyway through my flying. It's a good card for a primarily domestic traveler for lounge access, since US-based Star Golds cannot access *G lounges on wholly-domestic itineraries. On the international side, the waived FX
fee is a nice touch but becoming very common on higher-end cards.
The American Express Platinum Card comes with some nice benefits and the Centurion (Black) card gets you automatic Platinum Medallion status with Delta, among others.
With all that said, take my word for it, put your credit card spend on hotel cards. Hyatt and SPG
points are more valuable (IMO) than airline miles and the benefits are more tangible than what you get from airline cards. The Hilton Surpass AmEx is a good deal too... 40K annual spend gets you HHonors Diamond status, which was recently upgraded to include some very competitive new benefits.
[Edited 2012-02-02 08:33:19]