I just got the Delta AmEx specifically to create value. It gives 2 miles per dollar at gas stations, grocery stores, cell phones, drug stores, home improvement stores, and Delta purchases. It also has "miles boosts" when you cross spending thresholds (depends upon whether one has Gold or Platinum). I've reconfigured spending so almost all my spending is eligible for 2 miles per dollar - I even buy Southwest (I know) and hotel gift cards when I'm at the supermarket. Heck - I could even buy eBay gift cards with double rebates if I wanted to purchase something online.

$100K in purchases would essentially provide me two international premium class tickets (I'm very flexible and icurhere2 SO doesn't fly much, so I travel as one); this is indeed delayed gratification but I value this far over $1,300. The DL reward trip I booked this week had priced out at $10,500, or 95,000 miles + $250 - a theoretical value of 10-11 cents a mile toward airfare when I'm getting two miles for most dollars I spend.