What to do with TD GM Visa points?

For years I've been a loyal TD GM Visa card holder. I saved about $800 using GM points back in 1996 when I purchased my Camaro Z28. My dream was to one day buy a Corvette and save a few hundred dollars using points. Today I have about $1300.

Things have changed since then:

1. A Corvette no longer costs $35K, the top end Corvette is between $55-110K depending on the model. So if even had that much money to drop entirely on a car I don't think 1K is gonna really matter.

2. GM is teetering on bankruptcy so I doubt any of those points will survive chapter 11. I wonder if GM did go belly up would anyone really be interested in buying a GM car over an import.

3. Each month the "Program" expires $16. That kind of thing really pisses me off.

4. I can't think of any immediate family members that are looking for a GM car, so I can't endow any points to them.

Recently I signed up for a Scotiabank Momentum Visa. It gives back 2% cash on all grocery, gas and drug store purchases, 1% on all other purchases. Sure seems like a better bet.