yeah, price/yield is where it's at long term. At these prices, you're looking at making 100% of your money back every year on some of these (once divis are paid again). Where else can you get that for fixed income? I mean, seriously, if I had a spare $100k to put on these, I'd do it in an absolute heartbeat. I'm hoping some other lotto plays I'm in cash out soon, because Freddie prefs are where it's ALL going for me pretty soon.
In the near-term, trying to guess which (if any) will get redeemed first is too much voodoo while rates are low... once interest rates start going up on the variable yield ones (are there more than one? don't remember offhand), the higher yield ones will probably be first to get redeemed (assuming they're already being paid dividends) due to the higher cost of keeping dividends going... but what do I know, that's just the way I'd do it if I were paying outrageous dividends.
I'm a huge fan of FMCKJ for that reason... it pays 3-month LIBOR + 4.16%, with a 7.875% floor. LIBOR rates were 5%+ as recently as 2007, and even at 0.5% now, it's $2 per share per year with the floor. And it's still trading under $2 now, but not for much longer. Ka-ching if it divis, ka-ching-o-rama if it redeems, and ka-ching-o-rama-ding-dong if it divis for a few years at higher rates and then redeems ;)
These are going to be win-win stocks in very short order, here.