$349? That is still a pretty good price compared to the full Y on that route....but its starting to get close on that upper end.
All 4 segments (either routed through seattle or portland) are a commuter run. Things dont start getting really crazy for months. I think there is still plenty of time for future fare decreases.
That being said, with the exception of the PFD sale, Alaska airfare has been pretty much static and non-bargain like for quite some time now.
I remember pulling out my hair at a 2 hour before departure one way fare from SEA/FAI at a cool $240.
Is it worth watching airfares like a hawk to save $100-$150? Depends on the multiplication factor. Id be concerned about the upside on this full fare.