It's not much of a system really. Variance is too great in how they set-up some of those satellites, so it's not exactly a profitable method, unless you're a luckbox and go on to cash, but the odds of that happening are slight.
I've played the FTP points satellites often enough, but more often than not as an act of desperation, when I'm busted and I use 200FTPs to enter a 9-seat SNG to qualify and then withdraw from the tournament and exchange the T$ so I can get started... 
Anyways, I play them for fun but I wouldn't try to make a profit at it, especially considering how much rake you have to generate to get the points in the first place, I think there's better ways to spend my money.
Good luck in the Sunday Million Satellite, but if I were you I'd unregister and convert the entry fee. You can make more money than playing the tourney.