Eugene,

I found it. Thanks. Lots of "fine print" - Actually I searched the webpage with the find function (Ctrl + F) and "your" text.

One paragraph up it says:

....Members may purchase up to 20% of the points needed to redeem a Reward (this option not available when redeeming points online), at a cost of US$10 per 1,000 points....

Now we have it: One HHonor Mile is (less than) 1 cent, bringing us to: one Air-Line-Mile is (less than) 2 cents.
I know, there are loooong discussions regarding this on the board.