I just received an email explaining how my Palms slot club points will be transferred into Boarding Pass points at a 400 to 1000 ratio, which is correct and fair. It's a break, in a way, because it greatly broadens where I can use my previously earned Palms points. I like the Red Rock buffet, for example, and Palace's coffee shop. I will probably still use some points at the Palms, however, as the points can be used in the theaters, and the Palms buffet is vastly improved.
However, what the email doesn't tell you is that your Palms points, which never expired, are now vulnerable to expiration if you don't tally points on your Boarding Pass every three or six months (not sure which).
So it's good for people to know and underline this. Palms points were pretty much good in perpetuity. Not so Boarding Pass points.