Generally when I fly its on business and in business class as it is so using points for upgrades or the like doesn't mean much to me. The rest of Star Alliance doesn't interest me much unless I happen to be in their home country. Realistically, if AP made it easier to book reward flights like CO or others, I'd blow the points that way in a future flight (IE: honeymoon or something) but considering the pain in the rear method... I'd rather not.

So you're valuing 500K worth of AP miles around the $4000 mark hm? I guess everyone has their own idea of what this stuff is worth.