I have said it all along:
Although I have (A) not had way too many miles to worry about--like 1 million or anything, and (B) I never believed that the whole loyalty gig would last as a marketing scheme from the airlines...
BURN EM!
Bring your miles up to even 5,000 levels and then BURN EM!
example:
5, 10k NWA is miles+money awards.
50K is a free econ ticket to Europe.
35K is Hawaii on many airlines...
100,000k is a week in HHilton Hawaii or something...
Etc.
Burn em--or give them to family and friends to do so! Give an award today. Have the person buy you some good wine for your partings!
BURN EM!
(or they'll just 'Ansett' you someday!)