In response to ClimbGuy: I'm going to clarify my prior post a little.

1) When I say unique I mean that unlike airlines there are "special routes" that change the valuation of an AGR point. An airline will have a basic structure where for 25k points you can fly anywhere in the continental US. subject to availability. Trips must be booked well in advance (to find a seat and now to avoid the new fees for booking less than 21 days before travel) and any changes are costly. Amtrak has their basic zone structure and then adds in their NEC and special routes which can alter a point valuation IF you use those routes.

2) I agree with you regarding special routes. I have only taken the Pacific Surfliner which costs $36. However the Cascades route from Vancouver to Eugene is $121 for a train tomorrow or 1,000 AGR points. If you use that route then your valuation will be much higher. All I'm saying is that this messes up a basic calc of valuation simply by being a option.

3) Sleepers are expensive even in low bucket fares. Still an amazing deal.

4) Quik trak machines have a big advantage for reward and cash tickets. Easy refund ability. No airline will credit your miles back if you miss the flight. This is a huge perk for booking rewards and IMHO makes these points more valuable. The AGR system of allowing you to book anytime with few blackout dates as well as an easy no fee return policy adds value to a AGR point. By knowing that I can obtain reward trips easily I might reconsider a spend as I earn attitude.

Knowing that if I need to get somewhere in the NEC last minute (I live in NYC) and can use 3k AGR points instead of paying a high fare bucket. Basically it comes down to using AGR points for last minute or high bucket fares as well as saving for a special trip like a sleeper. If I lived near a special route, my AGR cc would certainly be my primary card.