Originally Posted by
Out of my Element
I'm not Platinum, but I thought for X,000 points you could upgrade to better floor/better view/etc. by contacting the property
Such room category upgrades can be secured at time of booking, for a nomimal increase in points as you note, but not online - only by phone with SPG.
The OP has found an example of a fairly low redemption value. He shouldn't have to look too hard (I don't) to find C&P or standard redemptions offering better than $0.03/per point.