I am totally astonished about how someone can earn 8000+ flight miles for a $150 fare!!! With all the bonus, the same fare also generates 20000 miles to be used in the future.
Can't the airlines do the math? Someone with status and time can play this game 5 times and earn himself/herself a FC ticket to Europe for just $750. In the process, that person gets free upgrades within N.America.
My solution for the airlines is to only award "direct" flight miles to any ticket. That way, it will discourage the mileage runners and free up higher class seats. At the same time, the airlines should try to sell biz/1st class tickets at more reasonable price. Lastly, don't award any miles for ridiculously low sale fares.

What did I just type? Looks like I am ready to take fireballs.