All "How much are my points worth?" threads are subjective, and depend on your earn/burn pattern.

When I was earning a lot of MR points, I valued 'em at a penny apiece. I took that value from the 087 award: 120,000 AA miles are worth 1.5c each to me, and I used the award at Kauai where a decent Priceline hotel would cost about $100/nt. So roughly $2500 in "value" for 250,000 points.

Now I earn fewer MR points, and I burn them for Residence Inn weekends. Because we have a baby and therefore need the kitchen, I value the awards against the lowest all-suites hotel room rate in my desired area (not Priceline, as that results in no kitchen). A lot of times we are talking 19,000 points vs. $85-90/nt incl taxes at an Amerisuites or something. So for me, MR points are now worth about 9/10ths of a cent each.

IMHO, you can do a lot better than .65c/pt, but it's really very subjective and depends entirely on what kind of awards you like. Someone who consistently travels to non-Priceline locations might show up here and say they'd never redeem their points for less than 1.2 or 1.3 cents each...

[This message has been edited by pinniped (edited Feb 03, 2004).]