I think you first have to figure out what you really want to do with those miles/points you are accumulating. Do you want (or have the time/inclination) to travel domestically or internationally? If the latter, where do you want to do in the next couple of years?

What cabin do you want? Happy in Coach, which also means your miles will go further and allow you more trips, or looking for front-of-the-plane experiences, whether or not you could afford them in real life?!

I use my miles to fly domestically to save money but the fun is First and Business internationally! I spent some time on FlyerTalk, lots of
time on Milepoint, and the read at least three blogs each day - Gary's viewfromthewing.com, Brian's thepointsguy.com and Lucky's One Mile At A Time. Daraius' MillionMileSecrets.com is also a good resource. I believe FrugalTraveler is good for those less interested in Business and First Class internationally.

But again, I think your first order of business is deciding why you accumulated all those miles! Good luck and happy trails.