Chase Freedom credit card policy/term change

I received a letter from Chase yesterday regarding changes to my ChaseFreedom card. It has been my primary credit card for a couple years now mainly because I also have a Chase checking which together the card gives me the following benefits:

MORE REWARDS. Chase Freedom gives you 3% cash back on your top 3 Everyday categories. As an active Chase Checking Customer, you'll earn 3% cash back on your top 5 Everyday categories – a Chase Checking account lets you earn in 2 extra Everyday categories!

NO EXPIRATION. Rewards don’t expire when you have an active Chase Checking account, so save up and redeem when you’re ready.

REWARDS QUICKER. You can redeem at the standard $50 level, or as an active Chase Checking Customer redeem $10 in rewards for a $10 check!

A nice option to receive a $250 check for $200 in rewards.

But starting on or about March 31, 2010, my reward structure will change to:

• Earn 1 point for every $1 spent on all purchases
• If you also have a Chase checking account, you'll earn 10% extra points on every purchase dollar you spend, plus 10 bonus points every time you use your card for a purchase.
• Earn 2 points per $1 spent on air travel when you book online using the Ultimate Rewards Booking Tool (Yeah right, like I am going to remember that when I book a ticket).
• Redeem for checks now starts at $50 instead of 10.
  

So, no more 3% cash back on top everyday categories and basically they made it harder and slower for customers to get the rewards. Google it and you'll see other similar postings about the changes since last year. Hmmm... I just got the $250 check, maybe Chase has been doing this only to people who choose to receive that $250 check? Possible. My wife also has the same card, we'll see if she get the same letter soon.

I probably will hold on to the card for now and see how the reward points turn out in few months.