YOU can answer the question. Price out what it would cost to buy points and get a flight with those points.

Then look at what it would cost you in CASH to book the same flight.

The vast majority of the time, the math does not work.

Okay... I will do the math for you. Here is a flight from LAX to Houston

At the 45% discount level, points cost 1.5 cents each.

Total cash price is $253
Point price is 18,594 points
Therefore this flight would cost you $280.87 worth of points
plus $5.60 in TSA fee.

And, the cash portion would earn miles.

If have point flexibility is IMPORTANT to you, then go ahead.