If you know how to work around the system then it still remains cheap as long as Amex not changing the system.
For example, how to redeem $200 travel credit easily and don't even care the discount.
http://forums.redflagdeals.com/platinum ... y-2149360/
Similarly, you could easily redeem BMO Rewards...
http://forums.redflagdeals.com/bmo-worl ... #p28652474
For second year, you could self refer to get Amex Business Platinum ($400 annual fee) to get 75000 bonus points (>= $750) and 15000 referral points (>= $150) then cancel the Personal Amex Platinum.
Second year cost = $400 - $750 - $150 = - $500. It's super cheap now. Amex gives you $500 for the second year Amex Business Platinum. You need to spend $5000 in the first 3 months.
For third year, self refer to get Amex Platinum ($700 annual fee + $200 travel credit) to get 60000 bonus points (>= $600) and 25000 referral points (>= $250) then cancel the Amex Business Platinum. This is working YMMV until Amex system refuse to give 60000 bonus points.
Third year cost = $700 - $200 - $600 - $250 = -$350. Again, Amex will give you $350 for third year.