I saw this interesting post in this thread and thought we could apply the same logic to DL and see what happens.
http://www.flyertalk.com/forum/ameri...lidated-9.html
For DL to reach DM,
Miles value for 125k = 125,000 miles + 75k bonus from 50k = 200k miles
EVIPs - outside value = zero, to owner, ~1000? due to high M fare
Waived fees, upgrades, F lounge etc = $4000 I think upgrades for GM, PM on DL en route to DM are also much better than to a plat on AA (does not exist)
so a DM is worth about 7-8000$, say 7500$, or 125k MQM = 7500$ or 6 cpmqm.
This is why DL miles are worth less (I agree with not worthless).
They exist. You just have to buy the stickers.
And because you need the stickers, the upgrades have a better chance of happening.
(Except for some EXP heavy routes like LAX-JFK on a Sunday evening!)