I know little about Choice Hotel points, so I gotta ask: which one of the three conversions in question is the one that actually increases your value? Using fairly objective valuations of 3 cents per SPG and $20 per RR credit, you're turning $600 into $1000. (I tend to get a little more out of both currencies, but you get the drift...)

Usually a string of three conversions kills your value. Yet this one yields a gain...seems like it defies some law of physics or something.

What do most FT'ers consider a Choice point worth? I'm just wondering if the real nugget is the 125k CHP...or if the sweet deal is going from there to the WN credits.