I understand Hindukid's reasoning that you should not value the points on a ticket that was too expensive for you to buy in the first place.

But hey - we're going to Puerto Vallarta and staying in a suite at the Westin on points. We booked before the devaluation. The suite rents for over $1500 per night and we are spending 84000 Starpoints for the week or 12.5 cents per point. Would I have spent over $10,000? No way. But is it WORTH it to me? Will there be special value? You betcha.

Used 145,000 Starpoints to get two First Class tickets on British Airways from NY to Paris last summer. Also $10,000+ per seat. Would I have paid $20,000+ to get the two of us to Europe? No chance. Was it ridiculously high value in my mind? Once again, you betcha!

We're all different. Not just different means but different ideas about what's important to us when travelling. I'll use the points when it can get me a special experience that I ordinarily would not have had. And I'll never use my Starpoints if it's less than 5 cents per point. Continental points? I use whenever I'm lucky enough to be able to get a ticket from them! In the end, if you're happy, it's a good deal.

As you say we're all different. I'm still at the stage that I just want a free (although as mentioned elsewhere it's been paid for thru travel) trip. Since I live in Korea, all my trips are international but are usually within Asia. Hopefully with FT knowledge, I'll get smarter about how to earn & spend my miles. I've already earned more non-flying miles in the month I've been lurking on FT than in the previous 2.5 years of being a FF member. The amounts aren't big (yet) but baby steps ...