It always makes me smile to see the value people place on rewards and the rest. I don't possibly see how you can place a value on something you were given for free. It's not like it cost $50 to get the rewards, so comparing that to what you would have to pay for miles purchased from an airline doesn't make any sense.
It depends on what you want the reward for. I don't fly American, so getting AA miles is about the same as letting the rewards expire. I'm certainly not going to redeem for a few thousand miles, then say, Gee, if I fly another 22,500 miles I'll get a free trip.
I have never rented at blockbuster, so the $152 I've accumulated so far this year is also fairly worthless to me there. Never rent for five days in a row, so Hertz doesn't make any sense.
You have to base it on what you will actually use, not the dollar value if you purchased these items from the vendor.
I fully believe e-rewards are worth it, it takes very little time or effort to rack up bucks. I wish they were still offering the array of choices that they were for redemption last year, but I'm sure I'll be able to bring my balance back to around zero in another month or so.