Just as an anecdotal experience with point value, I just was planning out some various travel package scenarios yesterday for us for next year and saw availability at the Marriott in Paris for next September. Price varies from 445 to 775/nt Euros during the stay period, which is about 900 USD at the high end. IIRC, the Cat 7 hotel part of the travel package "costs" about 150K points for 7 days.

Alternatively, for airfare, to a totally different and less expensive (hotel-wise) location, I found C-class award seats (business) on UA for FAT-SYD during the same timeframe for 90K miles per person. The 270K Cat 7 travel package comes with 120K FF miles, so I'd have to cough up another 60K miles to do this deal. However, the price for the same flights and same times, if purchased on UAL yesterday, were over 6800.00 per person.

So, what is a "reasonable value" for MR points? In the above two examples, the hotel could be worth a median of about 2.5 cents per point (based on the lower room rate) and the airfare about 7.5 cents per point. Obviously, this wildly variable but thought I'd share from the actual research I did for an upcoming trip option list.

I would say that 1.5-2 cents per point would be acceptable to me and I will look for values in that range or above.

Pat