I know that it's not the best use of points, but southwest is just overpriced now.

As if it's not bad enough that every single one of their flights that I took was delayed (yes, I got the apology letter -- too little, too late) their business select tickets for the route that I fly often (SFO-LAS) are $50 more than a first-class ticket on Virgin. That is real first class (wide reclining seat, free food, drinks, and movies, etc, etc). That was just the straw that broke the camel's back for me.

When I first started with southwest they were a low-cost no-frills airline with an amazing rewards program. Now they are a high-cost no-frills airline with average rewards. I've moved on.