American Express Membership Rewards are a valuable travel point commodity. They are transferable 1:1 to many airlines and programs, including All Nippon Airways (ANA). All Nippon has a very generous award chart, which allows multiple stops and is distance based. This is very good news for east coast frequent travelers as we will see.
Here is a link to the ANA award chart. For flights of distance of 7,001 – 9,000 miles round trip, they charge only 68,000 miles in business class. In this example, New York City to Zurich and Munich and back is only 8,139 miles. All the US Airlines would charge you at least 100,000 miles for this ticket which you can get for only 68,000 from ANA. Note that there are hefty fuel surcharges on ANA unless you fly on United Airlines or US Airways.
So there you have it, ANA has some nice sweetspots. Another one my wife and I used for free flights leading up to our honeymoon and for our honeymoon. This itinerary was only 22,000 ANA miles in Economy and only $20 in taxes and fees. All the US based airlines would charge at least 35,000 miles for this ticket, and would only allow a destination, not the 3 stopovers we had.