See. now I'm just the opposite. I gather miles as I go, but I don't go through any major hoops to get them.

Here's my logic: it takes a long time to gather up enough miles for an International First ticket (two, actually, because my wife won't let me go alone ). After I've spent the year or two and all those BIS miles, we ride over to Europe up front; we sleep half the way over, but other than that, the ride is very pleasant. But it's all over in a matter of hours.

When we get there, I take the hotel points I have studiously gathered, and we spend an enjoyable week or two in somewhat the lap of luxury. It's very nice to skip around to two or three countries and have topnotch accomodations waiting for you.

As you may have gathered, status is the key -- being at least next-to-top tier in the hotel chain makes a big difference as to how you are treated and the bennies you will get..

Status also is good with an airline, but it's harder (and more expensive) to get.

Because of this, and the fact that some credit cards are giving out more points for dollars spent in supermarkets, drug stores, and gas stations, I've been loading up on hotel points like I wouldn't have believed just a couple of years ago. And, I have some very nice vacations planned.

The flights? Well, I buy an upgradeable ticket and use some of my miles for that. I don't have the philosophical hangup that only free tickets are worth shooting for. In my opinion (which is shared by others), the most bang for the buck is spending miles upgrading.

As always, YMMV.