i get it but arent you also paying some $800+ in taxes ($118*7)? if you can use points to cover that through the portals and also earn points for the flights or even pay cash and earn points, cant you change most flights without penalty?
I guess if I didn't want to part with the $700
in cash, there would be a benefit to using miles for the whole thing, but even paying those taxes, though, I'm still getting 1.4cpp (vs 1.5 or 1.54), so paying a tenth of a penny for the insurance of being able to (i) book multiple flights, and (ii) being able to rebook without having to deal and be stuck with
expiring airlines credits is worth it -- to me.
(I figure the haircut I'd have to take from either the credit expiring useless, or for selling at a discount, just about offsets any miles I'd earn on a revenue booking.)