Just got my notice about the arbitration. I'm going to opt out. I don't cotton to those companies that want to arbitrarily change a contract. What is a contract when one side can suddenly decide to change when the other side does not agree?
On the issue of Class Action Lawsuits. If your side wins, you will get a pittance as a settlement, such as a coupon for some small amount or a service or product you don't even want.
Most Class Action Lawsuits get the lawyers money (40% or so of the total) the rest gets divided up amongst the other participants. See my previous paragraph.