AS's intra-state awards are one of the best uses of miles--7,500 one-way. String together a series of them for some phenomenal redemption values. For example, rather than ANC-ADQ-ANC, ANC-OME-ANC, ANC-BRW-ANC for 45,000 miles, you can do ANC-ADQ-OME-BRW-ANC for 30,000. That right there is probably worth well north of a thousand bucks.
That, in conjunction with the Tustamena trip outlined by Gardyloo above, is one of my dream trips I'd like to do someday, preferably before I leave Alaska...