Chase Sapphire Reserve Vs. Preferred, Which One?

Two great cards, the Chase Sapphire Reserve and the Preferred, but which one should you choose? I just fell under the 5/24 rule which means I can apply for another Chase credit card. Chase changed the rules a few years ago so you can only be approved for 5 credit cards in a two year period. Some cards are excluded, but most are not.
Since I knew I wanted to open two Southwest credit cards in December 2018, I held off opening any other cards for the last 24 months.
The bonus is I actually have four spots open, wow! I was approved for the two Southwest credit cards, woohoo, and earned the companion pass, (The companion pass is one of the best travel perks out there, you can read about this pass by clicking here) but I have another spot. I actually have two spots, but I am going to hold off using the last one.
I have been eyeing the Chase Sapphire cards for awhile because I already have the Chase Freedom and the Chase Ink Business card, but neither of those allow you to transfer Ultimate Reward Points to airlines unless you have a Sapphire card.
So now the question is which one?

Here are the pros and cons:

The biggest con, of course, is the difference in the annual fee $95 versus $450. However, if you break down the annual fee, you might make a different choice. 
For $450, you get a $300 travel credit so that knocks the annual fee to $150 and you also get a $100 Global Entry credit so now you are talking $50. If you value lounge membership and plan to use the Chase travel portal, then the Reserve starts to make sense. 
However, you get 10,000 extra bonus points with the Preferred. 
So you need to weigh the pros and cons depending on how you like to travel. 
Let us know what you decide.