But what's the Value for St. Regis? Will it be a separate table in the points chart and booking with Abound points directly at what could be very good value (like some of the Ritz Club properties)? Or will it be like the Hotels, Cruises, Resort Credit, Insurance, Third Home, and the Pay MFs with Points where you get a value of around $0.30-$0.40 per point, give or take?
As for RC waitlisting - I haven't tried waitlisting in a while, but it seems to me that not a lot of people do it. What are the odds of competing with another person for exactly the same dates, and same unit type/view? Moreover, there's absolutely no transparency on inventory issues, so you could have priority for something that had zero probability to materialize to begin with.
IMO, it would have been more potentially attractive to some people to offer tangible things like early checkin and late checkout (similar to tghe benefits they eliminated from Vistana 5-Stars).