at least until a better promo comes along, is AA’s announcement of double EQM (DEQM) for all flights/fares now until January 31, 2012. The gist of this is that on all flights, you get twice the miles in your account, and they all count towards elite status. So low level elite status can be obtained by flying 12, 500 miles in the month of January, and the highest elite level requires only 50,000 miles. See this post at View From the Wing for more info. The most intriguing take on this was from lucky at One Mile At A Time, who outlines how easily you can qualify for top tier AA status under this promotion over several days of flying. It is pretty extreme, but being able to get top tier status on AA seem well worth it under this promotion, and it is quite tempting to me…
At any rate, I do recommend reading that article, even if you aren’t planning to be a hard core mileage runner. It shows the value of being aware of your promotions and stacking them together, as well as the amazing wealth of knowledge that some of the old timers in this game have 
On a side note, there has also been some speculation that this offer will be matched by UA/CO, as they share several hubs/markets with AA, and will not want to lose business due to this promotion…for now, that is pure speculation though.