Satya,
Sorry to keep bothering you, but some of my players are complaining about the Players Club Points program. I also noticed that they are complaining on the poker forums as well (http://www.recpoker.com). They are all basically saying the same thing that the items their points can purchase are not that great. They want more choices available. The items currently being offered are listed at this link: https://secure.partypoker.com/my_account/pc/view_all_merc_items.htm
I like to take care of my players, so I told them that I would contact you and give you a few ideas of what they want:
Offer poker chips, cards, sets, poker table tops. Allow the points to be used towards tournaments. Maybe offer a WSOP seat for X amount of points. Have raffles where players can purchase raffle tickets for 1000 points each and the winner gets cash. I think you guys need to focus on player retention because I know a lot of my players leave. Give them something that will make them want to stay.