Just booked a Round Trip F SFO-NRT for 150,000 mils through ANA.

Was looking at UA, but combination of incomplete inventory (relative to ANA offerings to their members) and high number of miles required made me look elsewhere.

Virgin Atlantic looked ideal - much lower cost (in transferred MR points), but did not have access to the same inventory as ANA members.

Opened an ANA account, transferred 150,000 MR points, waited ~36 hours, and then fortunately inventory was still available for ANA members for my desired flight.

I would not pay $20,000 for this ticket, but I feel like I got a fair deal at 150,000 MR points.