For example, VIE-DXB starts at 53k at TK (with plenty of availability on the spring next year), or 60k at AFKL (but with far less availability). I'm also looking into VIE-KUL/SIN at the moment and TK is substantially cheaper in miles too. (Edit: And let's not forget unlimited upgrade availability at TK, which blows FB out of water.)

So for transfers from my bank, I always choose TK as both TK and AFKL are 1:1 and TK gives me more value per point (plus TK has relatively frequent transfer bonuses). Earning from flights are generally also better in M&S than in FB.

FB is purely a status program for me (and a pretty good one at that). Of course I will use the miles that I earned, but they don't represent any real value in my head.