Even after overcoming the challenges of limited award availability on airlines, you'll face the daunting task of finding points hotels, since there are relatively limited options from the major chains. (travelpointsguide.com)
Sure, I have to deal with limited award availability, but I travel often enough that over the course of a year I can find a way to use my points in a way that I value at more than 1.25 cents. (travelcodex.com)
Note: The Waldorf Astoria Amsterdam only had open awards for one year out and the Waldorf Astoria Chicago also had limited award availability during the summer. (uponarriving.com)