This is like the clearest explanation I've seen.
I was actually valuing it in terms of opportunity cost -- like what I would've done with the points if I weren't redeeming for this. But this is a clearer way of looking at it. Thanks!
Glad I was able to help. I just had enough of other people insisting that a mile is worth at best 2 cents and mostly 1 cent, some even going the extent of linking certain blogs giving ridiculous calculation methods. I've never tried to convince/persuade anyone that they should follow my calculations, because it's their miles/points eventually and it doesn't affect me at all regardless of what they do with it. I have real life friends boasting to me that they 'managed to redeem xxx points for yyy worth of zzz vouchers' and I'm like LOL. Some mindsets just cannot be changed.
For those that pm'ed me criticising my '10cpm value' for the SIN-JFK flight, I fully acknowledge, in fact explicitly stated that it is just the 'paper value'. If you even bothered to read my entire post you might have thought otherwise.
Lastly, some of you have been asking me about certain promo fares that may result in less than 1cpm of calculated value. I'll just briefly touch on some points below.
1. Promo fares don't always happen. They're called promotional fare for a reason.
2. These fares book into Economy Super Saver, which is the most restrictive. There are no changes allowed at all, and cancellations will only get you the airport taxes back. A saver award (regardless of class) will always allow changes. Date changes are free, and other changes are allowed at a nominal fee, which could be waived if you're elite status holder. You could argue that 'I don't need any changes', but not needing it is different from not being able to do it.
3. Flexibility of booking your trip as 2 separate one way. One way cash tickets only applies for Flexi and above, which will not get you the promo fares.
4. Finally, you're comparing a freaking BUSINESS ticket to the cheapest ECONOMY ticket out there. That in itself is a joke to me. If you're looking at these kind of comparison, might I suggest that you fly on LCCs instead.