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I was selected for an offer that gave 70,000 bonus miles for speeding 3K... so...yeah I'd say that's pretty good.. 2 round trip tickets to Hawaii.
After that though... it is one mile per dollar spent... so you're definitely not buying for the Miles.
The other great benefit - no foreign transaction fee.. so if you take international vacations.. it's a plus.
After getting the sign up bonus.. I'm going to keep it in a drawer until heading to Switzerland in April
I think that the card is worthless if you have status - CSR is a better option.
D1's advice is spot on for the most part. A great card to churn, a horrible card to use. Throw it in a drawer and get a better card that has no FTF (e.g CSR/CSP)