Fellow blogger The Points Guy just announced today that United (and newly acquired Continental) will be offering 20-25% award tickets to Europe booked before January 16, 2012. There are quite a few restrictions (fly between 1/27 and 3/22, valid only on economy awards, etc.), so take that into account before you book anything.
If a trip to Europe is in your future, go on United’s site and test out some of your potential award travel. And remember, you can transfer some of your American Express or Chase Ultimate Rewards points if your United balance is low.