Here's some interesting math:

Just booked JFK-SCL-JFK on LA in May for $927 in C class. Would normally cost 100,000 AAdvantage miles, so equivalent cost is $0.00927.

Pretty good, I'd say. Cheaper than a number of methods, almost as cheap as New OD + VR + BB.

And will earn about 13,000 AAdvantage miles, about 10,000 hard.