...at this point in time?

Or, alternately, if someone gave you 300,000 banked miles on your choice of any one U.S. carrier, which airline's miles would you take?

This is a very different question from which FF program is the best, as it addresses only the SPENDING side.

It's also a bit subjective, but I would think the criteria would be heavily weighted toward:

* Your own view of award availability
* Your own view of destination selection (including alliances), and how complete that is
* rules that might enhance or, more likely, hurt the value of the miles.
* Non-flight redemption opportunities and whether those have appeal.

In my own case I'd value UNITED miles the highest (thanks largely to NZ, SQ and TG in *A), but I'm not earning on them because of problems on that side of the equation (NW beats them on website, sale fare availability, upgrades, and level of service to ATL).

Would think that LCCs might still be at a disadvantage here, but maybe others have different takes.

How many of you are earning on a different carrier or alliance than the one you think has the most valuable miles?