See this thread too:
http://www.flyertalk.com/forum/virgi...nup-bonus.html
We got 47K miles with the BofA card and have already booked two interisland trips. It's 6K for a o/w or r/t. Beats the heck out of HA miles (7.5K or 15K).
The BIG problem is you have to call V. Atlantic and deal with a noisy call center. But it worked out fine. $2.50 or $5.00 in fees. Nice.