I am only mentioning this because a Player Club rep said this was widespread. The night before I checked out on my last stay at NYNY I went to Players Club to have them comp off my resort fees and restaurant tabs based upon play. They looked at my card and literally told me I had zero play. After a few minutes of investigation, they realized my play was being calculated in the negative meaning it was tracked, but tracked as negative play. It took them the rest of the night to manually reverse all of the negative play entries and by next morning my points were restored and they were able to comp off most of the stuff (still bummed they used my points to resort fees - BS). Anyway, until they restored my points, my status was moving backwards as well (they said I had 11,000 negative points - a swing of almost 100k points). The next morning they said it had something to do with the conversion of points from the old system to the new system and said it was widespread. If your offers have cut back or your points have disappeared, you might want to look into this, especially if you had played at MGM properties in the six months leading up to the change as that is where they told me the problem was at.
As for MGM, even though I did get Platinum and have received a few nice offers since, I am not staying there anymore until they re-visit their resort fees and comp policy. Besides, I only stayed at NYNY because Excal had good VP, but now that they have downgraded it isn't worth it. I do have a three night comp at Bellagio that I might take advantage of (it is Bellagio and only because it is Bellagio that I will pay the resort fee to stay on a comp stay) but will probably minimize my play there and just enjoy the free room for my last harrah at an MGM property ;-)