I'm grandfathered too and have not closed it because I'm planning on needing several accounts for all my WaMu cash. (LOL)
I also have BofA and the local bank that helps with the junior college. If we lose, I close my Chase account. If they charge me for checking, I close my account. I almost closed it once because they pissed me off, but I remembered that they don't make money off of me so I figure it pisses them off... :-D
I can't wait until I finally get to close the account, or put the fDIC min in there (from WaMu) to safe keep it until I invest it elsewhere.
I have not activated my Chase ATM card and won't unless this gets resolved for all classes.