I'm currently an ex-pat (in Europe) that is trying to consolidate or empty my miles and points balances.
I honestly had little need for the 25k AA miles in my balance, since virtually all my travel is business-related. I thought about using the points for something else, but couldn't think of anything.
To make a long story short, I was willing to convert my 25k AA miles into $108 Amazon Gift Card. The website says that they will send a gift card (or gift card information) to the address you list on file.
(Of course, after I clicked 'submit' to complete the online procedure, I started googling about points.com and was willing to see my 25k miles disappear, with nothing in return.)
To my surprise, exactly 3 days after completing the online process, I received the gift card code in the mail!
So although I know that there are some horror stories, here is one success story. Found below is a screen shot of the gift card code email.
-cmhsieh54
https://docs.google.com/open?id=0B-I...Xl5cjZxU1dlSzg