Have a ticket valued at around $350 from a cancelled flight that will expire in March. Doesn't look like I will be flying Continental any time before that. If I book a cheap one-way out of EWR, do I actually have to fly? Or can I just be a no-show and get the balance on the ticket?

Reading the FAQs on the COnt. thread yielded me the following and hence the question.

"If you have a non-refundable ticket in someone else's name that you want to use, the most cost-effective way to do so is to find the cheapest intra-Texas flight you can. Book one of those as a one-way, paying the change fee and using ~$50-80 of the credit value. That will leave you the balance to use for booking in your name (or a 3rd party's). Check for city pairs where CO competes with WN for the cheapest options. IAH-AUS/SAT are often pretty low".

Thanks.