Now that Continental is merged with United and Amex has cut the ties for transferring points it seems to be the best option. There's not nearly the appeal there was before they made you start paying the rather exorbitant "taxes/fees", but it still seems to be the best overall value to me.

Pay With Points (PWP) seems an outrageous cost. I was used to getting Continental rewards seats to Europe for 50,000 points, and while Amex/Swiss is now up to 60,000 + $400, the best PWP seat I can find ATM is 120,000 points with one stop (Swiss is non stop to ZRH). You could get First/Business First for that kind of mileage at United, and at that rate I'm better off buying Amex Gift Cards to pay the $400. Plus I get to fly with Swiss.

I am open to other suggestions as well.

EDIT: I just remembered that as a Platinum cardmember I get a 20% points rebate, so it would "only" be 96,000 points. Maybe I'll reconsider that route.