They can be transferred on a 1:1 basis to a Chase travel partner or redeemed through the Chase Ultimate Rewards Mall for award travel, statement credits, gift cards, merchandise, or exclusive Sapphire member events like a trip to the Emmys. (johnnyjet.com)
The best deal is Kohl's 15X, which you can get by clicking through the Ultimate Rewards Mall for 10X, then paying with the Chase Freedom Card for another 5X, since Kohl's is one of the 5X bonus categories October - December 2012, along with airlines, hotels and Best Buy. (travelsort.com)
All the same, I'll highlight the April Ultimate Rewards Mall bonuses that I view as the best ones. (travelsort.com)