it appears the typ's are exactly 1pt=1 cent
for example, the cheapest SFO-LUB flight on a weekday, is 36K pts (on southwest u can get $109 each way if booked in advance)
the cheapest, SFO-LAX rountrip costs 14K points (which is reasonable, although on southwest u get it for $120)
looks like ill be using my chase freedom to book travel from now on