Got my page this morning :)
I have not heard of these outfits - doesn't mean that they aren't legitimate.
However, many of these type of outfits basically "buy" the miles from people and then resell the award tickets. These are not allowed by the frequent flyer rules and the tickets are subject to cancellation if they find out. I know that most of the airlines have investigative units in their frequent flyer programs to search out these type of things. I've heard that one type of transaction that they are concentrating on is that people often try to access senior corporate executive accounts (who probably have accumulated lots of miles but don't really pay attention to them) and then issue awards from these accounts (which they sell). Please be very careful with these type of outfits (they could be legitimate but then). You really don't want to have started the trip and be "stranded" in Athens when they deny you boarding because it was a "sold" award ticket. Note that transfer of award tickets are allowed but not the sale of them (eg. its doesn't raise questions if its to family members or friends that you can prove your relationship to).
I'm not sure what airline you're looking at - sounds like United from the routing. But the fare actually doesn't really even sound that good to me.
Most airlines have Business Class fares that aren't that outrageous if you meet their criteria for leisure travel(eg for Delta its 7 day stay and advance purchase of at least 50 days - we're doing this for PUBS and the fare was $2800 - note that inventory is limited however). A few years ago, we also bought this type of fare for a Black Sea cruise that started in Istanbul and returned from Athens. I know that Continental has similar fares also.
Some airlines such as United allow you to upgrade using miles from relatively reasonable coach fares (not all coach fares qualify) - I would say $1000-1500 RT plus 25,000 miles each way per person. American has a similar policy with the exception of charging an additional upgrade "fee" of $200 each way.
Regent's Business Class fares aren't that unreasonable as a last resort especially if you don't care what airline you fly on.
