I have been in LQ for a little over a year. I have never tried anything with airline points. The only thing I use points for is for gift certificates. They have a fairly good selection of certificates you can purchase with points, both for dining and for shopping. In fact, it takes care of about half my Christmas shopping.
Most hotels are decent, but there are a few around that are bad. The LQ on Lee Road in Orlando springs to mind immediately, it was so bad.