It's been years since I've valued a mile at 2 cents. My current valuation for miles is about 1.35 cents each. I don't "buy" miles any more unless I can get them for less than 1.0 cent each, and preferably less than 0.8 cents each. This pretty much eliminates mileage runs for me, and in fact I haven't taken a mileage run in about 2.5 years. I don't have anywhere near the statuses I used to carry, but so be it.....first class simply isn't what it used to be even 5 years ago.

Although international business and first class awards appear to offer more bang for the mile, I can't see myself increasing my mileage valuation for those as I simply do not and would not pay those fares. My yardstick for travel is coach fares with a small to moderate premium for business/first that is roughly equivalent to what it would cost to purchase domestic upgrades.