I would have taken the cash, but it all depends on individual circumstances. For example, as an AC SE, I accumulate way more points than I am using, and the last thing I want to do when I am on vacation is get on a plane. I have in excess of 350,000 points, and no plans to use them. What good is another 1,000?
On the other hand, if you are trying to get enough points for a particular award, say the 25,000 for a NA long haul, then opportunities like that can get you a cheap ticket.
Also, until it is clear that we can merge our AC and CP points (I am sure that we eventually will be able to, but I am an optimist
http://www.flyertalk.com/forum/smile.gif ) I would hesitate to load up my CP account.
By the way, $0.03/point is a very expensive way to get a flight, and would only make sense if only a few points are needed.
Hope this helps
[This message has been edited by MD (edited 02-23-2000).]