I'd load up Expert Flyer and look to book yourself a nice European vacation for you and a friend or SO. 2 business class tix r/t = 200k Delta Skymiles. Take a trip to Italy (JFK-FCO) (you should be able to find a lot of dates, if they are several months in advance, with 2 business class tix available on a single flight) or go to Paris (JFK-CDG) or both. These are easy redemptions to find and book by using Expert Flyer and calling up Delta. If you're willing to do more work, you can find tons of posts and ideas on FT on what you can do with 200k Skymiles.