Bing.com

The Rewards on the newly updated Bling Reward Program are amazing check it out!!
http://www.bing.com/rewards

Earning Points
New user signup - Currently, Microsoft is giving 250 points just for signing up for the program.
Searching - Anywhere from 8 to 20 tickets per day. One point for every 1-5 searches.
Offers - A handful of offers are available at one time and seem to reset on Sundays. 3-16 points per offer.


Prizes
Prizes include games, 360 accessories, DVDs, electronics, gift cards, books, etc. There's some overlap with Club Bing, but also quite a bit more stuff. As of right now there is nothing large like an Xbox or stand mixer, but with the current earning rate, it would probably take years to get one anyway. One item of note is Microsoft Points. 100 reward points = 100 MS points, so you can get 200 MS points just by signing up for the program. MS Points are emailed.
Update: 100 MS points codes have been replaced by 400 points.