Holy crap. I just saw this thread or at least started reading it. Yeah, free rooms is probably the most important part to the 7 stars program. Without guaranteed free rooms, I likely won't do it next year. I know two others who most likely won't either. I know a fourth who was considering doing a 7 Stars run in January, because he always has friends coming to town and would like to put them up "for free" at a CET property on the strip. He likely won't be earning 7 stars without the guarantee free rooms.
The cheapest you can do a 7* run in LV is about $4,500. We certainly don't get $4,500+ of value out of the free rooms and other benefits. But simply the ease of use and guarantee that you can get a room is worth the additional cost, IMO. Sort of like having a lawyer on retainer - it costs more but it's more hassle-free.