<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by tom911:
Really depends what you use the miles for. 60K will buy an Australia ticket in coach on UA, and those are generally $1,000 or more (or will make a good dent in the 90K needed for business class). If you were strictly a domestic flyer, you could buy two coast-to-coast tickets on a good sale for $200, and then your rationale would work. If, however, you don't fly to one of those airports with cheap fares, you could even justify stacking the miles.
It's going to come down to where you spend the miles. Each of us attaches a different value to them depending what routes they'll be used on. What works for me may not work for someone else (most of mine go to international tickets in business class).
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I didn't say that it's not worth it; all I said is that it's not free.