I just got this offer in the mail as well.
Meh, even 1.5aa/$1 won't encourage me to spend a dime on this card. Wake me up when they're offering >=2.5aa/$1.
Ugh, why is it always the lousy offers that I'm targeted for?
In my case I have spend thresholds to meet, so I'd rather get more points while spending.
I got the same offer last year, and just tossed it in the garbage.