I'd value AGR points much higher than that, at least for use on Amtrak long-distance trains. Look a few threads down. A 30,000-point redemption on a train where the bedroom is running $1400 would mean 4.7 cents per point. I've achieved as high as 6 cents per point for a sleeper redemption versus the going fare at time of ticketing! That's on the high side, but even half that value is still decent.