I'm with UA-NYC on this one. Just keep the points in case you or a close friend/family member needs a hotel room in an out-of-the-way place or a quick one-night when status doesn't matter.

If you do save the points, keep your ears open for ways to use them. Years ago, I had a very pregnant friend who had her air conditioner break down in the summer. It took two days to get fixed. It wasn't dangerous, just uncomfortable for her. So, used points to get her and her husband a hotel room for a couple nights.