the cost of award tickets has generally been rising, i.e. the number of miles needed for any given ticket. Example: in 2001, Mrs.Grate3 and I flew SFO to Sydney, Australia on QF for 60K miles each. For 10K more we could have gone to 3 other locations anywhere else in Australia, as long as there was availability.
That sort of bargain is long gone.

Better to use your miles sooner than later.