If you are only redeem VS miles for Economy tickets, don't do it. Even with this promotion, 937 miles (according to my calculation, and open for debate) is worth less than £5 in terms of Economy airfare, when you considering all the tax and surcharges you are going to pay.
For PE, 937 miles probably just around £10 worth of promotional airfare or £15 normal fare, not a bad deal for your £2.50 Tesco voucher.
And for Upper tickets, it will be a bargin when using miles.