I know there has been some discussion of the My Points program in the past, and in general there was some disappointment about the slow earning, but it looks to be getting better.
For starters, they've added a lot more partners, including Hilton. You can now transfer MyPoints into Hilton HHonors points at a rate of 1:1 in 1,000 point increments. If you're a Hilton HHonors member this definitely makes the program better (I'm still saving for a Hyatt gift certificate though ...).
They've also added the VacationMiles program ... but the link doesn't seem to be working, so I'm not sure how valuable that option is yet.
UNOFFICIALLY, it looks like MyPoints and BonusMail will be merging in the near future ... but that's just a guess on my part. They both sent out nearly identical e-mails a couple weeks ago saying changes were coming, and they are both owned by the same company, and some of the new MyPoints awards are ones that have been available in BonusMail for a while already ... we'll see.
If you're interested in signing up for MyPoints, visit
http://www.mypoints.com ... and if you're feeling particularly generous enter my username (which is Beckles) as the user who referred you so I'll get closer to an award too.