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Booking with AA awards for Dec 27, 2012

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I post some on the US board, but I think this may be my first question for the travel board.

This is for next year, but I am trying to figure out a strategy. Flying out on Dec 27, 2012.
I would like fly from FSM to MIA. My second choice would be from TUL or XNA to MIA.
I would like to return on Jan 1, 2013. I have about 103,000 points and my wife has about 58,000 points. 3 of us flying. It seems that FSM only allows 2 awards per flight. So, I might have to just pay for one of us or go with TUL or XNA. They are both about 2 hours away, while FSM is about 20 minutes from our house. Plus, there are very few flights from there, so there is very little hassle at the airport.

So, my main question is when should I try to book this? Should I try right on the day that it becomes available and then again 5 days later for the return? Or should I wait and do both at the same time? Of course, I would like to use as few of my points as possible. Should I try right at midnight? or does that even matter.

I am also contemplating a trip for July 2013 trip to Kauai. So, I might be better off saving those points for then. However, it seems that if you book a hotel together with an air reservation that you get a pretty darn good deal. I would like to fly out on coach and return on 1st.

Any thoughts or tips about booking AA awards would be appreciated. I don't know if they will even be allowing any awards on Dec 27, but I suspect they would on Jan 1. Aren't actual holidays a fairly light travel day?

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