Careful on using $1000/135K points; you generate an additional 10K points for $1K spend at most properties (granted, some earn 5pts/$ rather than 10).

So a more realistic calculation is $1000/125K pts = $.008/pt.

For those that use air/hotel vacation packages, that's probably more bang to the buck. However, I've got airline pass priveleges so that gets me nothing.