If you refer yourself on another account you risk losing both accounts. I guess it's a risk/reward question but these people are very good at detecting that kind of behavior and for good reason. It threatens their business model.
But MyPoints is a great program just as it is. If you just do the toolbar searches, click the emails you get and fill out surveys, even if they're "scdnq" (survey complete: did not qualify), you still get some points.
Case in point: I've been with MyPoints for over a decade (since I was 17). I've earned 108,000+ points. It's not a great benefit, but $300 at banana republic, two free hotel nights at hilton (when they had that as a redemption) and $150 via paypal is a good return for less than 5 minutes a day. (that's by my poor person math)