To paraphrase one of AA's more notorious passengers:

A.B.B.: Always Be Burning.

Back in the days before I became LT Gold, I would use my miles earned from paid flights for hotel stays, then for flights once I met the quota for elite status for the year. Now that I'm LT Gold (and by LT, I mean 16 months if the WCS comes to pass), and now that converting miles to HHonors points is not the deal it once was, I'm going to use them as soon as I get enough for a one-way ticket (unless there's a DEQM promo going on).