Well it sorta sucks. I got a free companion ticket on jetBlue because I was a AmEx cardholder. This ticket had not rules but I must buy a ticket (thats any fare class or price, just a paid ticket).
100 buck home while in college. BNA-JFK-IAD. 16 points return when bought online (plus the 4 (2 eachway) onlice checkin bonus. So 5 returns, $1000 spent and I got a free BNA-JFK-NAS ticket for spring break while the cheapest ticket my friends paid was $390.00.
I got live TV, AND ENJOYED ALL MY FLIGHTS. On AA I am a nothing status and get treated as such. There is no elite program and that makes things smooth. I wish jetBlue would offer a lounge but like Virgin Blue (only paid access (no status access, expect Virgin Atlantic people connecting to VS/DJ flights).