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What is the best way to use edge points?

Transfer to your preferred transfer partners. M4B has the best transfer ratio of 5:4, while regular magnus has 5:2 ratio
 
It really depends upon your requirement. I believe being able to use a point today even if lesser value is better than storing them for future. You are also exposed to devaluation risks in that case. Upto 30% discount for immediate use is ok vs uncertain use in future
 
For maximizing monetary value, I believe transfer to accor or booking business class air tickets on international routes are the easiest route.
Otherwise it mostly depends on your needs.
 
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