I guess the bottom line is that this is such a subjective matter. With where I'm at in life and how much money I have, I wouldn't pay anything more than a cent per mile. With an F award ticket to Europe on AA at 125,000, that would make it cost $1,250. That, to me, would be worth it. But I have the money. Other people may be willing to pay more or less, depending on where they're at in life and how much money they have.

I think these discussions are interesting to have once in a while. But in the end it always remains the same, everyone is different, and will value miles differently depending on their situation.