Well, let's see:

1. You can transfer the points into miles in most U.S. airlines' programs, and if you transfer in groups of 20,000 points you get the 25% bonus (25,000 miles) Sixty thousand points thus can become 75,000 miles. That can be used for upgrades or even free flights (if you have enough).

2. Beginning at 2,000 points per night, you can redeem them for free stays at Starwood properties around the world. Sixty thousand points could transfer to some 30 nights lodgings.