Points are based on spend (10 per $) except for Intercons which are a flat 2,000. Air Miles are per stay.

Points can be converted to miles anyway (10k PC = 2,500 miles). If you are spending over $200 per stay at a non-Intercon, you're better with points (which you can convert to miles later). If your average folio is under $200, you're better with miles.

You can switch your choice of points or miles as often as you want, if you want to maximise your earnings.