As amusing as this is, I could not tell you offhand how to express 121 as a sum of fibonacci numbers. I mean I could figure it out, but I could also either multiply by 1.5 (121mi ~180km) or by 2/3 (121km ~80mi) and it would probably be a little bit faster than the fibonacci way.
I do think that it has practical applications for the smaller ratios that are easy to remember and/or derive. For example 5:8 is a both a closer approximation than 3:5 that most people use, and is more convenient when miles are a multiple of 5.
Or by the definition that the ratio between consecutive fib numbers approaches Phi, just multiply by 1.618? Though at that point might as well just use the real conversion ratio.