Not sure if you have all noticed, but the service has been around for six months. The launch was coupled with Nintendo's debut mobile app Miitomo, and since March 31st we have been blessed with the new loyalty program that replaced the good old Club Nintendo (RIP 2003-2015).

We are at the infancy of the new system which is currently centred around the digital side of things. Recommendations, Just for you discounts, purchase/downloads from website and digital rewards is what is currently on offer. I think the rewards and discounts so far have been a bit sparse, could be the reason why Nintendo has extended the expiring date for gold points to one year or continue to offer the TLoZ:TP Picross game. Still we do have things to look forward to I guess, specially when the NX comes around.

Be aware that you could have points expiring today, check out this link to see how many and try to spend them if you can.

So, what do you think of the service so far?
How many points do you currently have?

It's a nice program but the list of discounts is limited. Hopefully it will be expanded with NX.

I am enrolled but haven't used it because they don't reward for physical purchases which are the only kind I make.

The gold coins seems to be the only thing that's worth something. Especially for someone like me who always buy physical over digital. The gold coins gives you digital only games, so that's fine. The platinum coins pretty much only give you a discount on games like Mario Kart 8 that I already own the physical version of.

I don't see what use I would have from miitomo and I don't get rewarded for physical purchases plus the different coin types of arbitrary worth makes things too complicated and the rewards aren't exactly all that great. Bring back Club Nintendo!

There was a bit of excitement during Miitomo's launch, but I think we can all agree that it failed its purpose to direct users towards My Nintendo. Maybe a few still use the app and buy their digital hats?

The rewards itself are too digital sided, hopefully the retail offerings of the NX will bring us points, but like I mentioned in the OP the offers so far are a bit sparse. At the beginning I would collect points and hoard them to see if anything cool would come up...
... and I'm still waiting.

Currently have 2850 platinum and 50 gold!
My rewards so far has been a 50% discount on XType Plus and used this months expiring points on the Picross game.

They really need to expand the discounts to more products. And make more free Picross games. MyNintendo Metroid Picross when?

Yes, but for the WiiU. The rewards so far have been mainly centered around the 3DS.
All the digital titles you could get with platinum points were for the 3DS.

I got the 40% off Earthbound Beginnings. I didn't think about it until like a month later and its just gone. How quick do you have to download it after you spend your coins?

I think it's only valid for one month, at least that's what I remember from my discount.

What's cool is that a "Just For You" banner comes up in the eShop after activating the discount.
So you can easily purchase it from there.