Mark, from what I've read, you seem to fly quite a bit, so maybe you're the perfect person to ask... I can't for the life of me plan out any trip I'd want to take where using Aeroplan points saves much money.
Me neither. Except for front-cabin flights.

So my aeroplan points have mostly been used for first-class travel (for two of us) to New Zealand, Australia (different year), England/France, and Italy (so far). On the long journeys, it really helps to have a bed, excellent service, nice lounges with free food, drinks, reading materials, showers, and no airport line-ups to speak of.
The trick for those, is to know that most flights have a MAXIMUM of two front-cabin seats available (at minimum points). And if one wants *both* of those seats, then book no later than 340 days in advance. For a single seat, it's a bit easier.
Another cool thing is, booking a "Star Alliance" trip costs fewer points usually than an "Air Canada only" trip. Gotta love those inconsistencies.
And for short-haul (within the same continent), forget it.
Cheers