Originally Posted by
LTN Phobia
Not always! I found an Avios seat when there was literally only horrendously expensive full Y (as in Y fare bucket) seat left on a long haul flight. That was probably the best value redemption ever

Yes I would say much depends on your situation and the route you're flying. A one way redemption in Y from here to LHR can be as low 22,750 Avios and £170 which isn't bad for such a long distance.
I see them as something I got for nothing so tend not to squeeze as much value out of them as possible when redeeming them.