The first year of Club Nintendo ended on June 30th of this year. By that time, you needed to have accrued 300 or 600 coins for Gold and Platinum status, respectively. The elite status of every member resets for each "year." You still retain your points but Nintendo wants to make sure you keep buying their products. I was fortunate enough to have accrued 600 coins for the inaugural year and achieved Platinum status.
My choices are an exclusive DLC of Punch Out! where you play as Little Mac sparring against your trainer, mentor and friend, Doc Louis or an authentic Mario Hat that I can physically wear. I have not decided as to which reward I will take but I have until August 11th to decide. Write comments below if you have an opinion.
The Gold status level reward is not what I would classify as the greatest reward but considering the difference between Gold and Platinum is a minimum purchase of 5 Wii titles. The reward is a Club Nintendo 2010 calendar.
Either way you look at it, you are still receiving swag for purchasing Nintendo products. Here's hoping the fall and spring releases (Super Mario Galaxy 2 anyone?) come out in force so that I can reach Platinum status again.