I've done a few short-haul 25k redemptions at 1.5cpm or so over the years. If it's a flight I definitely need to take (thus representing a real cash outlay if I don't use miles), I'll accept a lower return per mile.

MCI-DTW R/T - we've redeemed NW for that a couple times. Neither my wife nor I pursue Skyteam status, and that ticket is usually in the $350-400 range due to a lack of competition.

I figure it's easy to rebuild a big stash of miles. I'd rather monetize them quickly instead of holding out for the "perfect" redemption.

I also redeem for int'l premium cabin quite a bit, but those aren't flights I'd otherwise book with cash so there really isn't a meaningful value to put on them.