The price of Miles & Money awards on United seems to have increased since the last time checked. Originally the pricing appeared to be distance-based, and now the pricing seems to be related to the price of a revenue ticket. The new pricing makes it rare to find a Miles & Money award that's a good value. From their introduction through late 2010 at least, domestic Miles & Money awards were priced at 10-15k miles plus $80-$120. The pricing seemed to be looseley based on the distance of the award. For exaple, MSP-ORD-BWI would be 10k miles + $80, and IAD-SFO would be 15k miles + $120. Short-haul, last-minute awards were a good value when revenue prices were high. 10kmiles + $80 for DCA-ORD at the last minute could easily be a $400-$600+ revenue ticket. The new pricing appears to be half the miles of an award and half the cash of a revenue ticket. So, for example, DCA-ORD would be 12.5k miles + $200 (if the revenue ticket cost $400). When Miles & Money awards were intrudoced, they were a legitimate enhancement to the program allowing miles to be redeemed at a better value than a straight-up award (especially for 1Ks with changes on awards). Now that the cash component of the award scales with the ticket price, does anyone see any times when a Miles & Money award would be a good value? I should add they they do seem to offer Miles & Money Standard awards (no capcity controls) for 25k miles + half the ticket price. Perhaps that could be a good value for an extremely high-priced ticket.