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I updated an existing thread here but that one is fairly old and thought I'd post a new discussion in case people aren't subscribed to that one.
I completed my nights stayed requirement for the summer bonus promo and was able to succesfully enroll in the 4x miles promotion. I called customer service first just to make sure it wouldn't disqualify me from the points promo and they said there should be no problem.
If anyone else is thinking of doing this, I'd wait until you see the bonus points actually deposited into your account (probably 2-3 days after your stay) before switching just to be on the safe side.
Also, remember to update your profile for miles and enter your FF number PRIOR to registering for the promo.
Here's a copy/paste of a response to a question about the value of this promo in the Ask & Answer section. It pertains to Delta miles, so others may vary.
As for value, the short answer is it's not a good deal if you stay at Courtyard, Fairfield, or SpringHill. Those properties only give you 1 (4 promo) miles per dollar but would give you the full 10 (12 silver, 12.5 gold, 15 platinum) points per dollar. The other properties are a better ratio.
Marriott, JW, and Renaissance would give 2 (8 promo) miles per dollar. And even though Residence Inn and TownePlace give the lower 1 (4 promo) keep in mind that's compared to only 5 (6 silver, 6.25 gold, 7.5 platinum) you would earn in points. Here's a breakdown...
Standard Points/Miles Conversion Awards:
2000mi = 10000pts = 5pts/mi
5000mi = 20000pts = 4pts/mi
10000mi = 30000pts = 3pts/mi
25000mi = 70000pts = 2.8pts/mi
50000mi = 125000pts = 2.5pts/mi
And what you would earn at each property:
Marriott, Renaissance, JW
8mi = 12, 12.5, 15pts = 1.5, 1.56, 1.88pts/mi
Courtyard, Fairfield, SpringHill
4mi = 12, 12.5, 15pts = 3, 3.13, 3.75pts/mi
4mi = 6, 6.25, 7.5pts = 1.5, 1.56, 1.88pts/mi
Keep in mind that the 4x miles starts with your second stay so take that into account. Overall this promo is better for silver elites as well since you get the same bonus miles but wouldn't earn as many points with the 20% bonus compared to Gold/Platinum.