pinniped

I answer most of these threads the same way: the answer very much depends on your own earning/burning patterns, your own cashflow situation, and how bad you want to be in that Marriott vs. a similar hotel down the street or whichever option Priceline would serve up for you.

I do frequent Cat 2/Cat 3 award stays similar to the one you describe at a similar redemption rate. (Penny a point.) Some folks here look for more than that by saving for the major travel packages, but I tend to earn & burn my Marriott points frequently, keeping my cash in-pocket, and then using Starwood for my major awards. I use them in places where I absolutely want the Residence Inn or TownePlace Suites and I don't want to deal with Priceline or any third party agent.

If I get 1 cent per point, I'm happy. Usually, the Marriott point I earn today will get spent within 9-12 months (using FIFO), so I really feel that I'm getting a legit penny a point in most cases.