I tend to look at it a little bit differently. How much revenue do I have to spend to get a free night in Maui, which I use as my standard? (Paris, Tokyo, Sydney, London, etc. would add more value to a "point")

With your method and $300 for a night in Maui, and a point is worth exactly 2 cents.

More important to me is that I have to spend about $2300 to get the 15,000 points required. But I can refine this calculation further. Assume an average of 1300 bonus points per stay (a G1 and airline bonus), and I have to do about 6 one night stays to get a free night in Maui, spending $185 per night on eligible charges.. This blows away SPG, and we are not even considering FFNs.