That is very helpful reply of yours. Thanks for explaining so well.
1:1 Point Transfer looks interesting, as there are many travel partners in airlines as well as hotels. So I can use those 80,000 points there.
I will still read your link for choosing FFP. But if I choose Chase, then I have last question this. In order to use Chase points, I will need to use travel portal of Chase, instead of direct airlines website. Is it as convenient as booking directly with airlines. Suppose, if I want to make any change or cancel my trip, will it be Chase, I will be following or I can directly talking to Airlines?