If the question is can you get better than 1.75 CPM of "value" from miles based on what AA charges for revenue fares? Sure. Whether or not it is actually a "good deal" depends a lot on your financial situation. For example, 200,000K miles can get you a couple of roundtrip TATL J tickets. Once you include taxes, your outlay will likely be in the $4000 - $4200 range. The cheapest J TATL revenue fares run about $2200 - $2500 roundtrip (inclusive of taxes) per person for seasonal roundtrip J fares out of LAX (valid around Easter and in mid-August). Using miles represents a savings in the range of $200 - $1000 for two tickets. For someone with a healthy amount amount of discretionary income who can afford to spend $4000 - $5000 for a couple of J tickets, it probably isn't the worst use of your money. If, however, you are living paycheck-to-paycheck and are carrying credit card debt, you'd probably want to re-examine your priorities before making this kind of spend. Maybe you don't really need to fly at all, or perhaps you should settle for coach instead of going for J. And then there's the CC churn/MS crowd for those who want to live the J-class lifestyle without actually having a J-class income.