The long-awaited site Hotwire.com launched this week in beta format. Hotwire offers roundtrip tickets at up to 40% or more off published tickets. Users input their dates and cities of travel and Hotwire presents a fare offer for the user to purchase. The good news is you know immediately that the fare is available and at what cost. Less convenient is that you don't know the airline or the particular time of the flights selected until you purchase the ticket. Tickets are non-refundable, non-changeable, non-upgradeable, and don't earn airline mileage. Participating airlines at this time are AA, HP, CO, NW, UA, & US.

I tried an IAH-MIA routing that prices at just over $400 on the major websites. Hotwire offered it for $186. Major savings, but the cons are a little too high for me. No upgrades or miles, along with no knowledge of travel times is a big detractor for me.