As simple as it sounds. This is the first time since AMEX devalued the MR <> BA transfer from 1:1 to 1:0.8, so now with this bonus, it’s back up to 1:1.2, until 10/10/16.
British Avios points are excellent for short-haul awards in most places around the world, given that it has an almost singularly unique distance and not zone based award chart, meaning that some short flights, such as New York to Canada, that would normally cross zones/countries and be a huge amount on other airlines, is a negligible amount on BA.
I’ve gotten some amazing 4,500 point redemptions on BA, such as Chicago to DC, and Lima, Peru, to Cusco, Peru, to give two examples, both domestically and internationally.
I wouldn’t bank all my points in BA, because it certainly isn’t the best carrier for long-haul awards, and doesn’t have all the availability in the world, but I definitely would put some away here if you don’t have some already. And now’s the time to do it!