I don't know if this is targeted, but I recently received the current "Time Zones" e-mailing, and it has a nice offer:
If you've got Gold Points sitting in your goldpoints plus account now is probably one of the best times ever to use them. Why? Because if you redeem your points for one of our fantastic rewards and we will give you back 50% of your points straightaway. Valid until 31st October 2006.
That would raise the effective conversion rate to 1250 miles for 5,000 Gold Points (if they deduct 10,000 then give you back 50%). However, that may only be offered to European Gold Points Plus members.