One Asia Mile

USA to Europe, BA Business Class roundtrip upgrade, 22.5K miles + $600 WT+ ticket
Worth $1200 to me, or $0.0375 cents per mile
(worth less due to max. one-way distance of 5000 miles;
but value per miles should be higher to others who would pay more than $1200 for a restricted BA business class roundtrip)

Ofcourse, SPG are transferable to AsiaMiles so they have an even higher value (transfer bonus).

And 25K BA miles can do the same upgrade...so they are also a good value for BA transatlantic.