Is the $3,000 you're quoting based on the brochure rate? If so, the real value would be much less than that because with a little research it's possible to book cruises for much less than the brochure rate.

The $1,000 certificates can be used on any deal at any time, and therefore can be a much greater value than they seem at first glance.

For example, last month my wife and I went on a 10-night RCL cruise out of Tampa. I found a deal for $509 each (nice!), but at that time I didn't have enough MR points for a certificate. But theoretically I could have booked that same deal with Cruises Only and used my certificate for all but $18 of the cruise price. So... a 10-night cruise for only 145,000 points out of the port closest to my home! (Granted, I still had to pay taxes on top of that.)

The more I think about it, I actually like the flexibility of the certificates. The flexibility allows me to save money in other ways by choosing the departure port of my choice, or the off-season, or taking advantage of whatever cruise line happens to be offering the best deal.

In this year's economy (and probably for several years to come) there are going to be some TREMENDOUS deals on cruises. The cruise certificates are as good as cash when we find a great deal.