patk,

Welcome to FT!

I agree with Big Guy, gardener, kymbakitty, and annerj on this one.

Spend 319,000 points for a Sony KDL40V5100 that would cost you $869.99 at JR.com including shipping.

OR

Spend 320,000 points for 10 nights at a Category 8 Hotel like Paris Marriott Hotel Champs-Elysees or Renaissance Chancery Court London which would otherwise cost you $6377 or $4175 (Global Break rate) respectively.

I think you get the picture. 0.27¢/point for the TV vs. 1.3-2¢/point for the hotel stays.

I understand keeton's position too, but with only 200K points you hardly qualify as having points to burn. Now if you don't plan on traveling, or traveling enough, for pleasure to hotels where you would better benefit using points then by all means use the points for merchandise, cruises, rental cars, etc. It is very easy to make the determination for yourself. Evaluate your options and do the math.