Single best credit card you can have if you're a frequent traveler. Lets you transfer into about 25 different airline programs at a 1:1 ratio (note: not Star Alliance, tough- that's 1:2), plus use at Starwood properties. Plus every 20K transfer gets you 5K bonus miles. Alternatively: a 1% conversion option to buy any ticket, anytime.
Yeah, especially when used for transfers to airlines for use on international business or first, or for use at Starwood properties. Consider that 12K-16K points/night gets you at room that would normally cost maybe $400. So that's 2.5 cents to more than 3 cents per point.