"I have noticed now that it is common at the MGM properties to give you Free Play instead of cashback and also as a lure on their comp offers. When one plays off this Free Play, is it tracked in the same way as real money is in terms of comps and rating...etc?"
The Free Play itself does not earn any points or comps. However, once you have played through the Free Play dollar amount, then you do start to earn comps, cashback and rating.
http://get.live.com/search/overview
[Non-text portions of this message have been removed]