You have excellent advice from Dave. The only thing I might change would be buy more points from marriott to get up to 270,000 MR points and get the Cat 7 pkg with 120,000 FF miles ... or to 250,000 MR points for the Cat 6 pkg with 120k FF. My reasoning is that you'll never get the FF miles that cheap even if you have to buy additional MR points to get them.
You didn't say how you got the 200k MR points. If this is an ongoing process, or if you can turn your week in for 120,000 MR points one year when you take a 'points' trip you might be able to get a lot further ahead faster. Also, if you think points points points and get the premium MARRIOTT VISA card you'll even earn points at any store.
I like the 150,000 3 Europe resort special, although I haven't tried it yet -- but I assume you don't have to use it over 7 consecutive nights. Imagine flying to Paris for a 3 night stay at the Marriott Champs Elysses, then driving overland to Marriott Monaco for a 2 night stay and on to Marriott Milan for another 2 night stay before flying home...stopping off for a night here and there in Nice, Cannes, Italian Riviera, etc. You could spread your 7 nights into 2 weeks and really see the countries.
Or if you want Italy by itself, you could spend 2 nights in Milan, 3 nights in Rome Grand Flora (difficult to get a week there), and 2 nights in Capri. I think you could split it 3 nights in Rome, 2 nights in Capri, and back to Rome for 2 nights too. UK has a similar package for 3 stays.
Saving more MR points for a while and marry up the above 3 hotel reward with a Cat 7 hotel pkg with 120k FF miles and stay for a week at London County Hall right on the Thames at Westminster Bridge and Big Ben.
You can buy up to 50,000 MR points per calendar year ... so you could do it in Dec this year and Jan next year for a quick 100,000 MR points to add to your total.
Here's the link to buy:
http://www.marriott.com/rewards/usepoints/tranpurc.mi
The best way to take a trip of a lifetime, I feel, is to get to the 540,000 MR point level and cash in for TWO Cat 7 hotel with 120k FF packages. That's enough for 2 BUSINESS CLASS tickets to Europe worth 4 times as much as economy if paying cash but you get lie flat beds, lounge treatment, great (?) food, priority service, etc. A great second honeymoon. On such a trip, the airlines will allow you one stopover ... such as flight to Heathrow for a week in London - then flight to Paris for a week - then flight home from Paris. And you'd have enough miles left for about 2 domestic business class flights.
As Dave says, time may be running out somewhat on maximizing point use, but I agree there is probably some breathing time for you to build your point levels...and really see the true value of this benefit. Takes lots of planning, and about 330 days ahead for bookings, but it's such great fun.
Brian