Thanks everyone for your comments. They were informative AND they made me laugh out loud.
So, here's my decision, which was kind of made for me. IF I hit in Vegas I decided I may treat myself to a Tumi piece for my birthday (or an Hermes scarf or two) but I decided to go with a less expensive brand given that the piece was "free" (sort of).
Here's the deal. I had $250 in comp dollars in a casino near my home and got another $150 in comp dollars just for a weekend for a special shopping promo, kind of like great gift wrap up. Funny thing is that on my "cash" shopping list for Vegas was a mini pocket camera, an over-the-shoulder silverish clutch (wristlet is too small because I need to fit two phones but a regular purse was too big and my wardrobe colors for the trip are going to be white, silver and green ) and a piece of luggage.
Well, I went "shopping" last weekend with with my comp dollars and was planning to get a nice purse or something but guess what I got instead? Well, I got a small coach bag that was 98 comp dollars. It's considered a large wristlet and I can use it as a wristlet or change the straps and make it a mini purse I can put over my shoulder that fits under my arm pit. It's white cloth with leather silver trim; it's literally exactly what I was looking for and its quite handsome. I would have paid cash for it so that tells you how much I liked it.
Second item I purchased with my points -- also, no tax! -- was a fujifilm pocket camera, featuring 16 MP and 5x zoom. It came with a lightweight case and a 4 G memory card, all for $137 in comp dollars.
And, drum roll, the third item I purchased was a 21 inch Samsonite Aspire Sport Spinner Bag in black. It was $140 in comp dollars, which was a decent price as when I checked the prices online on sale the bag was in the $120-125 range. The reviews indicate that the bag is in the average to slightly above average in quality range but I what I love is that it is EXTREMELY light weight. It's not Tumi but styling wise I find it attractive and I can use it for work and for personal travel.
So, I got all three items for $375 in comp dollars. I feel REALLY good having used my comp dollars that way and am pleased with my luggage. I checked online the smaller matching boarding bag and I've seen it on sale for about $55. I'm going to purchase that and have a decent set. Even if it doesn't last forever it looks good and my out of pocket cost was virtually nil.
I'm very happy with my purchases as I was thinking about using the $400 to purchase a beautiful orange leather bag but I probably would have used it just a half a dozen times this summer. The pieces I purchased, including my luggage, will be put to good and frequent use. I'm now set -- other than building my bankroll -- for Vegas!
Thanks again for all the advice and the stories of fondness for (or dislike of) your luggage!