This sounds like a great deal, but I noticed two inconsistencies:

1)Hilton's reward exchange page indicates that it takes 5,000 miles (not 3,125) to get 10,000 points:
http://www.hilton.com/hhonors/rewards/exchange_1.html

2) The phone card indicates a bonus of 4000 KILOMETERS while the sign-up bonuses are in MILES. This may be a distiction without a difference, but it seems odd.

I hope the main conclusions in this thread are correct because everyone in my family (4)has been sitting on 4625 unusable frequenta miles for the last year or two.

Here's the original threads that tipped me off to the sign-up bonuses:
http://www.flyertalk.com/forum/Forum33/HTML/000004.html
http://www.flyertalk.com/forum/Forum33/HTML/000005.html

Thanks to ozstamps for digging deeper into this and highlighting the double miles bonus.

[This message has been edited by dhacker (edited 09-11-2000).]