My problem with the "buy GCs now for later spend" angle is that there seems to always be a new card with a new spending requirement, or a retention bonus to meet, or something. I feel like I shuffle cards with my wife weekly and tell her which one to use exclusively - until the next week.
So we were never catching up on the gift cards. We finally did, and now I avoid them like the plague because they just sit around and work their way to the bottom of the stack.