Burning
Burning as many as possible these days. Went FC to Florida a few months ago (2 of us), going FC to Alaska in July (4 of us). Sent daughter to Calif., Had a lot of miles just getting devalued. That coincided with a new austerity enforced by the Princeton tuition office, and concern about the long-term viability of some of the airlines. So, time to burn.
Have burned most of the US, still have lots of Delta and AA, as well as about 200,000 GlobalPass miles from the Run.
Larger amounts in the bank with the hotel programs, in SPG, Hilton and Marriott.