For the last year I have been getting 2.5-3.5 cents per point on flights on AA to get my son to and from college. Except I used BA points which were acquired via Amex transfer bonuses of up to 40% but BA and AA charge the same mileage 7500 points each way for these journeys so the value per point is the same whether I used AA or BA it is just I can acquire BA points cheaper than AA points so will burn those first when I can. And that value by the way is based on the cheapest fare that would work not necessarily what AA was charging for the specific flight I booked on AA.

Also like a few others here I have started booking domestics with points over the last two years where prior to that I often didn't make sense. My generally goal is to get a minimum of two cents of value per point.