I accidentally came accross this:
https://www212.americanexpress.com/d....com/skypoints
And then this article that describes the SkyPoints program a bit more:
http://www.smartertravel.com/travel-....html?id=13363
Sounds like not a bad idea and, though sans the MQM earning, not a bad choice for those who want to travel on DL and have a DL affiliated CC, yet find SMs rather hard to use. This gives the flexibility to convert into SMs, but also the use to use SPs (are these the original, mythical, SkyPesos by any chance?

) as real money towards flights at a decent redemption ratio of 2 cents per SkyPeso.
But, these are the only two references I can find to this. I guess it's no more..?
Just curious, anyone know what happened to this and why this program was pulled? That would sure alleviate some of the issues that the millions earning SkyMiles via AmEx are having -- they could switch to earning the true, genuine SkyPesos (1 SkyPeso = 2 cents of real money) instead.