@Michelle-and-Ray0,
I'm on strict, and have never been on anything except strict...
and my bookings range from 50% to 80-90% and I'm happy with that.
It's a trade-off. I like the people I get that choose "strict" cos they know what they want, are less expectant on things they did not know would NOT be there, and/or read the ENTIRE LISTING cos they know IF they book it, they are committed.
In my experience - it's worth it!
Oh, and all cancellations have been paid according to terms... ie: they know if they cancel they have a penalty that they DON'T get out of paying.
So, in my estimation, strict is worth it.
Just my two cents...
Jann