The current list is valid for stays from now through 09/30/11.
I stayed using PointBreaks in Toronto And Tiberias, Israel and got great rooms at both hotels even though the hotel is only reimbursed $30/night on PointBreaks stays.
You can stay in any PointBreaks hotel for 5,000 Priority Club points. If you already have 5,000 Priority Club points in your account then you can buy increments of 10,000 points for $60 as described below.
If you don’t have points yet Priority Club sells 5,000 points for $67.50 or you can instantly transfer 5,000 AMEX MR points into 5,000 Priority Club points or instantly transfer 5,000 Chase Sapphire Preferred Ultimate Rewards points into 5,000 Priority Club points.
After you have 5,000 points in your account you can book any cancellable 15,000 point hotel using cash and points for $60+5,000 points. Just search for reward points stays in any metro area and you should find a hotel for 5,000 points+$60. When you cancel the hotel you will get 15,000 points in your account. In other words the cost per each 5,000 point stay is just $30 after you already have 5,000 points in your account.
Sample hotels: (Hotels have a limited amount of PointBreaks rooms and will be taken off the list once they sell out.)
Crowne Plaza Jerusalem
Intercontinental Suites Cleveland
Crowne Plaza Pittsburgh Airport
Holiday Inn London Heathrow
Staybridge Suites Toronto-Markham
Holiday Inn Montreal-Midtown
Crowne Plaza Paramus, NJ
Holiday Inn Cleveland Airport
Holiday Inn Seattle Airport