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Chief
There’s no “best value” since the redemptions are tied to the price of the ticket on SW unlike the other legacy carriers.
Granted, I would compare the price of all airlines to find your true value. ORD is a fairly competitive market.
Trying to figure out where SW has a really great redemption value. Is it short haul/Hawaii, Mexico?
Southwest points now average 1.23 cents or so. Depends on the taxes and fees blah blah. But it’s a revenue based program, like jet blue and Spirit. Fear not, United and Delta are on their way to 1 cent per point as well.