This new program is absolutely terrible. I'm SFO-based and virtually every UC ticket to LHR is turning up at 515,000 or 525,000 points.
The search results on the website also aren't showing every seat as available, despite the claims. Do two searches, one for money and one for points and the points results will not show the same flights as available. Even within the results, it claims things like "4 seats left at this price" when there are more than 9 open seats in UC on that flight when checked with other searches like expertflyer.com.