Also, the stories behind the ribbons/medals are the best thing about awards. Sometimes the airman with a NAM has a better story than a LCDR with a Bronze Star. I saw an ABHAN scoot under a sliding Hornet and save it from going over the scupper with a tie down chain on KHK in '03. The CO pinned a NAM on him right after flight quarters on the flight deck. That the best use of the awards system I've personally seen.
I agree, which makes me ask the following:
I got a NAM for being part of a SAR that was in some pretty shitty (read: out of limits) conditions and resulted in saving three shipmates' lives. Sparing the details, there was definitely no other way these guys were going to be saved. Sooo, should the award have been a NAM or an Air Medal? I always thought an Air Medal was more appropriate, but as Fetus mentioned, the NAM was a tool for the ship's CO to recognize people.
People see a NAM and may think "just another guy w/ a NAM." People see an AM and think "just another Strike medal" (yeah, I know, it's not). Regardless, I don't like talking about my flair...