I would probably want to minimize my exposure to U's financial situation by taking the miles as UA miles. Not that UAL is a shining example of financial stability, but if I had to bet on ONE of these companies lasting a few more years, I'd bet on UAL.

I have 180,000 US miles. I'm not too stressed about it because I pretty much wrote them off as goners they day U dropped off the big board. If I can get 'em out through the UA partnership, that'll be a wonderful bonus to me. However, I'm not flying another US segment or attempting to earn another US mile.