For plenty of opinions on working with ETRADE to get miles, see various threads from last summer/fall regarding the similar United/ETRADE promotion. (Sorry, don't have the links off hand, but try search.)

My personal experience (and if I remember correctly, others shared my misfortune) is that I'm still waiting for my 10,000 miles to get credited, many months after the 6-8 weeks have passed. I've exchanged many emails - and have faith that they will get posted - it's just an aggrevation at the moment.

"Languishing" is a little extreme - you DO earn interest in their money market. And check the fine print - I found I didn't have to keep my full initial deposit around for 6 months, just have my account still be open and "active" after 6 months.