I've routinely found redemptions for $0.015 to $0.018 per mile on DL (which does factor in the 15% discount for being a DL AmEx holder) and finding $0.013 per mile is not uncommon at all. Now that has been for domestic redemptions (been a while since I've looked at int'l redemptions) but has been a mix of Y and F redemptions. I'm not saying this data point should drive someone's decision but simply saying better redemptions are out there and I evaluate both cash and miles options to ensure I'm getting an okay return. I generally won't consider using miles if the redemption rate isn't at least $0.015 per mile.