I only do Swagbucks searches; I don't bother with the time-consuming stuff like surveys or watching videos. I am always doing internet searches and would be doing them regardless of whether or not I was on swagbucks, so for me the points don't add up as quickly, but I consider anything I get a nice bonus, since I would be doing those searches anyway.
I also do the swagbucks shopping sometimes, but only if it's something I would be buying anyway, and if I can get the best price on it. For example you can get swagbucks for shopping at Walmart.com, so if theres something I need that's not groceries and I can get it online and pick it at the strore for free (no shipping) I will sometimes do that, say for toys at Christmas or for electronics items.
Once I have 450 points I trade it for a $5 amazon.com card, because I always need something there and it seems to be the best-priced gift card in the swagstore.