This is one time in your life when you should NOT let miles dictate where you stay. STAY at Le Meridian Bora Bora. It is phenominal. Get an overwater bungalow fairly far out from the shore -- but not at the very end because the water is too deep there and the current is too strong. About 1/2 to 2/3 of the way out is the place to be. I stayed there in September 1999 and I can't wait to go back. Words can't really express the views, the colors of blue in the water, the fish you see while snorkling. I wish I could hide in your suitcase and come along. Alas, I have my memories. So stay at Le Meridian (Hotel Bora Bora is also very nice but Le Meridian is newer -- and from what I saw of HBB, nicer). Book your rooms online. You'll save about 30% from what you'd pay using a travel agent or calling their 800 number. And check out the bulletin board on this website: http://www.tahiti-explorer.com

As a miles hound, I know how tough it is to pay for things with money, but trust me this one time, to hell with using the miles, stay at Le Meridian.