Everyone has their own perspective on value, but to me -- Marriott is the best.

Marriott hotel awards range from 1 night at 7,500 points up to 125,000 points for 7 nights. The 200,000 point award is the best.

Hilton hotel awards range from 1 night at 10,000 points up to 195,000 for 6 nights (70K pts higher for 1 less night). Hilton offers a 6 night package w/ 2 airline tickets for 400,000 points (VIP only GlOP award). Even on the low-end, most nice Hampton Inn hotels require 20,000 points for 1 night.

So you earn points & miles with Hilton, but it requires a lot more points to earn a free night.