Exactly. 25K SPG points can get you 6-7 nights at a Category 2 hotel.

There are some good uses for Avios, and a transfer bonus will come around once in awhile, but an Avios is worth much less than a SPG point.

M&M often charge more in taxes and surcharges for award tickets, at least on European flights, than the underlying fare. Yes, that's right, you can end up paying more in order to hand over your M&M miles... http://flyingpiggie.com/2016/06/luft...ropean-awards/ I'm sure there are exceptions such as US domestic flights on United, but do you really want to be tied into such a small subset of potential uses of M&M miles?

And just forget you even have those FB miles.