There is currently a 30% transfer bonus on Membership Rewards transfers to Virgin America.

Until April 30, 2014, 200 Membership Rewards transfer to 130 Elevate points. (The normal rate is 200 Membership Rewards to 100 Elevate points.)

What are the sweetspots on the Virgin America chart that might make a transfer worthwhile?

Taking advantage of this transfer bonus is not a good idea if you want to fly Virgin America domestic flights.

Part I Europe
Part II Asia
Part III Africa/Middle East
Part IV Australia/New Zealand
Part V Central/South America

Europe is an absolute award chart bargain compared to Aeroplan's mileage requirement for Asian travel. After Aeroplan's summer 2013 devaluation, its award chart for travel to Asia became very expensive relative to other carriers.

Sadly, United’s recent devaluation and Delta’s unprecedented double devaluation brought Air Canada Aeroplan miles in line with the likes of United and Delta.

Updating this post

There is currently gold mine business class award availability on US Airways flights from the US to southern Europe for this summer.

Award space on US Airways flights is especially advantageous because it means that you can book the space at favorable mileage rates (and no fuel surcharges) with:

US Airways miles
American Airlines miles
United miles (until March 30, 2014)
Ultimate Rewards (until March 30, 2014)
Membership Rewards (until March 30, 2014)

What are the routes? How good is the space? How good is US Airways Business Class?

American Express Membership Rewards transfers to British Airways will come with an automatic 20% transfer bonus from now through December 31, 2013.

It's transfer bonus season with Membership Rewards.

American Express Membership Rewards transfers to Virgin Atlantic will come with an automatic 30% transfer bonus from now through November 30, 2013.

There is currently a 40% transfer bonus on Membership Rewards transfers to Virgin America.

American Express Membership Rewards are valuable because of their ability to be transferred to dozens of partners. But they have a glaring weakness: they don't have a top-tier Star Alliance transfer partner--US Airways or United.

Membership Rewards can be transferred to Singapore, which is great because this is the only way to get into Singapore business or first class.

Membership Rewards can also be transferred to Aeroplan and ANA.

Hilton HHonors-33% Bonus on Membership Rewards Transfers

Per this thread on FlyerTalk, Hilton is offering a 33% bonus when transferring Membership Rewards into Hilton HHonors points. This offer is good for transfers through January 31st. Transfers must be made in increments of 1,000 Membership Rewards points.

Through January 14, you can transfer 1,000 Membership Rewards to 1,300 Avios. The transfer are hard-coded into the Membership Rewards transfer page, meaning you don't have to know any special codes.

All my posts about Avios are contained here: milevalue.com/category/avios.