I decided recently to cash in all the frequent flyer/frequent sleeper points I've accumulated from the many hotels and airlines I routinely patronize. Some of these had grown to embarrassing proportions. So I'm now the proud owner of a Sony photo scanner, a 6 megapixel Nikon camera, a $100 Lowe's gift certificate, about twenty magazine subscriptions (I just cashed in the last of my Continental Airlines points this morning) and I still have countless free nights at hotels that offer only free nights.
With the disappointing exception that nobody offers booze or cigars, this is kinda cool.