Personally I go with
kooks and use my miles to upgrade most of the times. The reason for this is to earn miles to requalify for my top tier status.
As I have the impression that you are not interesting in earning QG miles I strongly recommend to use your miles for a free transatlantic ticket in F/C Class.
If you do eg ORD - ZRH (A) – ARN (D) –ZRH (D) – ORD (A) referring to QGs Award Calculator you need only 125.000 QG miles (ORD-ZRH-ORD in F is 150.000 miles).
You can buy one block of 2.000 QG miles (maximum up to 10.000 QG miles per year) for USD 59,--/block (= 2,95 cents/mile)
Links:
http://www.qualiflyer.com/services/m...culator/spend/
http://www.qualiflyer.com/basics/buyMiles/