I used 152k marriott points to get a 160gb iPod with Bose QC3 headphones. I sold the headphones for 325$ and kept the iPod. I don't know what that works out to be but for someone who doesn't take a lot of travel vacations (and if I do, I still have quite a bit of Marriott points) it's a good way to save money on something you'd otherwise have to buy with cash.

Yes, you'll get most people saying it's a poor conversion ratio.