QFF points are definitely not worth 2c/pt. You have to decide for yourself what it is worth, but most would value it at 1c/pt range and definitely below 1.5c/pt. Remember that every FF plan has different "points" so posts talking about point being worth 2cents might be valid for a different plan; doubt anyone would think that for QFF.

AA will often sell you points (worth more than QFF) for less than 2c/point, as a point of comparison. You'd be better off doing that (good for redeeming QF awards but not usable for upgrades on QF).