Originally Posted by zachary

Back to the OP's point -- this is why the value of a RR point is difficult to quantify. While 1.4 cents is a good approximation of the value one gets by simply looking at the money being saved over purchasing the ticket with a credit card, I think the real value is a fair amount higher because it permits me to make reservations that I'm not sure I'm going to use and then simply cancel when I make a final decision even if that's at the very last minute. There's no other airline that does this that I'm aware of, and I use this flexibility frequently.