This thread got me to thinking so I went back and looked at my average CPM for my 2012 MRs. By the end of this year, my average cost per mile for just over 41,000 PQM of pure mileage runs on UA will be 3.98 CPM. Two of them had a higher CPM because of positioning flights, which I was happy to do because each meant 10,000 PQM in one weekend.
My 2013 is starting to average out to 3.4 CPM. I'll need about half as many PQM so let's hope I can hold that average or better...