No, have a look every now and then when I want something, see the QF pricing and head over to David Jones which is like a discount store, relatively speaking.
There's actually a price ceiling given vouchers available, with department stores like DJ's and Myers being good comparison points.
Simple comparison
Myer Gift Voucher - 13500 QF pts = $100
Ipod classic 160GB at Myer = $326
QF pts required to purchase using Myer Gift Voucer 44010
QF pts required to purchase direct from QFF store 50500
6,500 pts for the convenience of getting online ......
Similary comparisons with say breville appliance, I picked a toaster that values at 20000 QFF pts, can purchase for $121.... $121 in voucher terms is 16,335. Put simply you are better off getting vouchers from QFF (even if you can't get a voucher for the store you want, just get one for woolworths... after all we all need to eat).