<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Similarly should the airlines/hotels be able to do anything to their programs as long as it is legal?</font>
Of course they can! And the airlines will do whatever they can to maximize their profits. If we don't like it, we don't participate.
The same applies to the milespy offer, if you want to assume the risk that some link in the chain will break, go ahead. I have assumed that risk, but only for myself. If I were in the wage-slave position I was five years ago, I'd be tempted to go with milespy's offer since their offer provides a single point of responsibility.
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">you need a US/Canada address to avail of the offer with Valuemags</font>
In fact you need a US (not Canadian) address for the subscriptions, but as far as I know, you in Ireland can buy an American friend a gift subscription to The Economist for U$125 and collect the 14062.5 FF miles. (I haven't tested it with a non-Canadian address, but I've purchased gift subscriptions for my American friends).
andrew