Personally I think the majority of the FTP satellites are a waste of pts.... most of them are 'winner-take-all' and the play is pretty sick at best.
If you're getting rakeback, using your FTP's will not be saving you any money (ie. some tournaments can be bought in for using FTP's.. ie. the MiniFTOPS series,... but for each FTP spent you will be losing some of your rakeback, ie. to play the FTOPSMini#24 the cost was 2,700FTPs (which translates to $13.50 in lost rakeback... so buying in for the $12+1 would be better... unless of course you're not receiving rakeback on Fulltilt).
Personally what I would do is.... wait until you have 650FTP's, then enter the 650pt. SNG Super Satellite to the $750K. It's a typical 9-plyr. SNG with payout being 1st & 2nd get 2,500FTP's (which you can then unregister from the 2,500FTP satellite and keep the FTP's)... & 3rd gets 850FTP's. I've had the most success with using my FTP's in these games and they've helped me to accumulate a Fulltilt wardrobe, lol.. a couple of shirts and a couple of hats.
I'd also consider playing this same satellite SNG (above) a bunch of times and then actually play the 2,500FTP satellite MTT into the $750K (Top 100 finishers win the $216 ticket to play the Sunday $750K.. or was that $215??.. no matter).
THere have been occassions in the past where Fulltilt will hold some special FTP Tournaments (recently they held 3 of them on the same day, with buyins of 1,000 & 2,000 FTPS & guaranteed prizepools of $50,000 & $100,000).
I personally don't think any of the other FTP satellites are worth bothering with.... way too much of a longshot for my liking. You can't go wrong with a new poker book or Fulltilt hat,... or perhaps even better >> a purchase of a few months membership to CardRunners.
GL in whatever games you choose to play. Last time.... personally I think it's way better to just let them accumulate because the games with small FTP buyins are terrible.