Personally, it would not be worth the hassle of setting up another checking just to get the bonus, since you'll break even with that $100 bonus within 8 months.
Nor would it be worth it to me to use it for bill pay, since that means you're scattering your banking needs. I'd rather keep it all under 1 checking account. Sometimes, it's good to keep things simple.
So, the only way I would see this as a worthwhile venture is to switch my one checking account needs entirely to BoA, and set up direct deposit on it. Speaking only for myself, I'm still better off staying put at my current credit union, but whether you feel the same way with your current financial institution is entirely up to you.
