Originally Posted by
badatz
Is the exchange rate of 45000 miles for a $500 fare a good rate?
There is a vast range of opinion on the value of a mile, but for 1.1 cents I would jump on it (assuming these are AA miles and not DL or US).
[Edited to add:] I'm assuming you're getting the miles, not using them. Otherwise, reverse the logic as
Jaimito Cartero pointed out.