Originally Posted by
drvannostren
Collecting these points with no status at all doesn't REALLY make much sense and I think that's where people go wrong. You're probably better off collecting Amex/RBC points or whatever that are directly related to the dollar value of the flights, or just taking a cash back card and funneling that money into a travel/vacation fund.
au contraire, collecting aeroplan points from non-flying activities, credit cards, sign up bonuses, etc - makes far more sense than collecting Aeroplan points from flying when you compare the cost of acquisition.
But yes, if you are redeeming for Y on YYZ-LHR, Aeroplan makes no sense.
If you are putting all your eggs in one basket (whether its Aeroplan or whatever) - you are far likely to get burned as well.