I'm in InfrequentFlyer's camp, but even more so. I don't put a monetary value on the enjoyment I get from my friendships, my family members, my dogs, or from those perfect ski runs on a sunny day. I would never in a million years pay money for a first class flight between Hong Kong and Los Angeles on Cathay Pacific, but it is one of those experiences I will probably never forget, particularly since a few days earlier I had been trekking in Nepal. I try to maximize my points and miles so I can do the things I couldn't otherwise do. My next goal: a first class flight on Emirates. And I have no idea what it would cost if I paid for it, because I wouldn't.

I do understand, though, that for some people, part of the hobby is to try to maximize values, and I value the information you share because I find it interesting, as long as someone else is doing the math.

Each to his/her own and may the new year bring us all lost of miles and lots of upgrades.