Sounds as though OP doesn't really understand that SPG points can be transferred (usually) with a bonus to many airline programs, notably, AA.

Then, use the AA or whatever miles to fly on AA or partner airlines. The 175K to Europe seems very high. Can likely be done for much less. Looking at the AA award chart http://www.aa.com/i18n/disclaimers/f...ward-chart.jsp it looks as though one could go from US to Rome for 40-60K AA miles in coach or for 125K in biz or F.

By the way, IMHO, availability often opens up a week or two before departure date.