Ok, I am finding some good deals on weekends in the D.C. area using M&P. The per night cost in points is a lot cheaper on weekends than it used to be, with some locations below 20K per night. That combined with the slider and you can get a good room at one of the Hilton's for around 12K per night plus $50 or so. Not bad at all for D.C. area (mostly NoVA or southern MD).

Example: Hilton Dulles 26-29 May

24K Points + $153.36 for the entire stay.

The slider does not seem to let you select even dollar amounts, so you just get close.