You have to be careful with the RC rewards in my opinion. The "few nights" rewards tend to be the worst in the program. Take for example a Tier 2 RC that would otherwise cost, let's say, $500/night all-in during your stay.

For a 1 night reward, you are going to pay 70k points, netting you $0.007 in value per point (a whopping 7 tenths of 1 penny per point).

On the otherhand, for a 7 night reward, you are going to pay 250k points, netting you a much better (but still not good) $0.014 (1.4cents) per point.

I tend to pay for all my RC stays, which total an average of about 15-25 nights a year. The RC redemptions have improved in recent years (anyone else remember when they were 110k/night???) but I have to think they are mostly targeted at people earning points for work-related travel who otherwise wouldn't stay at an RC on vacation, therefore MR sees these types of reservations by this specific type of customer as a good way to bleed down MR's point liability cheaply.

Also consider the value in a travel package. Let's say you redeem a 7 night Cat 7 with 120,000 air miles for 270,000 points. Most people value air miles at $0.02/mile, so the air portion alone is worth $2,400 under that logic. If we assume, say, $400 all-in for a Cat 7 hotel if paying cash, that gives us a value of $2800 for 7 nights, or $5,200 in total for hotel + air miles. That means the total value of the entire redemption is $0.019 (1.9 cents) per point, which is the best of any option.

Of course, YMMV.