I don't think this has been discussed: last week, some outfit calling itself milepoint.com announced that they would allow conversion of miles into $ for purchases (1 mile = $0.02). I thought this was significant and perhaps the next step in the evolution of FF programs. It turns FF miles into an actual exchangeable currency. IMHO interest-earning mileage accounts are on their way.
Is this some flash-in-the-pan dotcom run by a 15 y.o. from her dad's garage, that will be bankrupt by the end of the year?

Interestingly enough, if CO, NW, DL, HP, US, TW and Hilton participate in the program, UA does not.
Does anyone know why?