The new award pricing system is now in effect. I can already see dates when the nightly rate for a Traditional room is 60,000 points per night (peak rate). It may be a good idea to check for any cost reductions for upcoming stays. If your stay is now considered off-peak, you will need to cancel and rebook to receive the lower 40,000 points nightly rate. If you stay's dates are now considered peak, you do nothing; your existing 50,000 points rate will be honored.
Thinking of recent changes, since Marriott came into the picture, the word "inflation" comes to mind.
When I think about the current points pricing, compared to the old SPG rates, things have simply skyrocketed.
The three nightly points redemption rates are now 40,000, 50,000, and 60,000 per night. Checking through my previously-booked reservations, most now have a nightly rate of 60,000 points, a couple display the message that new points bookings are no longer being accepted for the dates, and one or two nights remained at 50,000 points.
Swan
Points calendar for peak, off-peak, and standard redemptions (sign in to your account and search for flexible dates)
The winter months seem to have the most dates with 60,000 points redemption, while the summer months seem to have the greatest number of dates for 40,000 points. I wonder if the redemption rates are fluid, based on occupancy, much like the cash rates.