I had a biz ticket from Frankfurt to Los Angeles, on an overbooked flight. I was offered €1500 Euro to downgrade to Economy (a nice seat by the emergency exit, thanks).

I took happily the €1500, but it also mabe me think (that I rarely do). This can of course be used as a measurement of ones personal valuation of a biz seat (we all value it different), and therefore also be used as a true valuation of ones valuation of FF-miles.

Would I take the deal for €1000? Yes, I think so. What about €800 ($1000)... well, thats close. In short, if someone pays med $200 an hour taxfree, they can send me all over the world in coach. $100/hour, well its close, but I guess no thanks (when I was a student, I would have thanked a lot for the same deal).