MyPoints' October Double Points Promotion

MyPoints.com has a new promo going on this month -- they're offering double points on purchases made from select merchants. My question was, how good of a deal is this? So I set out to get the scoop.

Using the cheapest $25 redemption (as I do for consistency with all calculations I make on this site), I calculated the temporary, October percentage value for these double point merchants.

These merchants will be 4 points per dollar (worth 3.3%) in October:
Banana Republic (best elsewhere is 2%)
Best Buy (best elsewhere is 2%)
Buy.com (best elsewhere is 3%)
Circuit City (best elsewhere is 3%)
Disney Shopping (best elsewhere is 4%)
Gap (best elsewhere is 4%)
Home Depot (best elsewhere is 3%)
J&R (best elsewhere is 4.25%)
JCPenney (best elsewhere is 4%)
Linens 'n' Things (best elsewhere is 4.25%)
Nordstrom (best elsewhere is 4%)
Old Navy (best elsewhere is 4%)

These merchants will be 6 points per dollar (worth 5%) in October:
Avon (best elsewhere is 6.8%)
CostumeSuperCenter (not sure anyone else rewards for these guys)
Illuminations (best elsewhere is 10.2%)
Petco (best elsewhere is 9%)
ThePopcornFactory (best elsewhere is 10.2%)

And lastly, Shoebuy will be 8 points per dollar (6.7%) -- best elsewhere is 14.4%; and MyWinesDirect will be 10 (8.3%) -- best elsewhere is 18.7%.

So, all in all, unless it makes a huge difference to you that MyPoints will be paying 3.3% instead of the 3% you could get elsewhere for a couple of these guys, and aside from Banana Republic and BestBuy, where you'll earn 3.3% instead of 2% elsewhere... EVEN WITH DOUBLE POINTS, you could get a better rebate from a site other than MyPoints for the majority of these merchants.

In other words, ho-friggin'-hum.