There are ... issues rolling points, so be aware of how exactly the points work before you make grand plans to keep a rolling stock of SYWR points to get an infinite supply of free games. Basically all your points are treated as expiring when the closest expiration date is as far as preorders go, and you tend to get cancelled preorders and lost points if you try to apply points to preorders. I didn't explain it well and its confusing but you can read about it on the kmart threads.
This deal is good if you shop at kmart a lot and will use points in store on a regular basis, and preorder games to "fill" your in store shopping preorder bucket. Its not as good if all you want to do is order video games online, you will end up frustrated at cancelled orders and lost points.
Also Kmart can be pretty terrible at actually getting games to you, depending on your area. Some people get it near release day, some people end up waiting weeks for some games.