The value here is that you should be able to get the signup bonus for this card even if you’ve had a regular United Visa Signature in the past. Chase has really cracked down on churning signup bonuses with their cards, so having more, unique cards is huge. Pick up the 25,000 miles and no fee the first year Visa Signature, small business Visa, and this one and you’ve got 75,000 miles. Then there’s still the Platinum class card with a $165 fee and another 25,000 miles plus elite qualifying mileage bonuses, and you can be at 100,000 miles quite cheaply.
Update: Free Frequent Flyer Miles has posted an update, hedging whether he believes you can get the bonus for this card in addition to the regular Signature Visa card. Please let me know your experiences if you try.