Of course you could always cash them in while the going is good. My 150,000 points would get a $1,000 dollar myer digital gift card or 2 gopro+silver cams and points change.
Calculating on flights this is worth around $1,200 off applicable qantas flights assuming red e deal fares are compared with. Or up to $4,000 on a j class fare-if you could ever get one of course (oops sorry got distracted by that pig flying by)
To get practical value from the FFp you really must be flying a lot on flex fares and use the points to upgrade.
But what am I to talk- there are entire websites devoted to this area.
I think those gopros look good.