Kind of going OT here but it is true the JPM Select cardholders will be converted to CSP within a year or so. I already have a CSP and when I asked if I could PC my JPM Select to the Palladium it sounded like a real possibility. Of course I'd likely need to move about $100k into a Chase Private Client account, but the EO sounded like I might be able to do just a straight PC from JPM Select -> Palladium without the need for a CPC account.
Sorry to keep it OT, but that would be a nice gesture by JPM for Select holders to have that option! Crossing my fingers for you if you did want the Palladium. Definitely higher AF ($595) but you would get a LOT more benefits for the $500.