Thanks for the info!
I did a sample RTW with the 35k miles and it works out pretty well if I leave off Oceania and it allows me to start in SEA (instead of New Zealand, which was my plan when I was going to buy a RTW ticket).
I could use my AS miles to make a cheap jump from HKG to SYD & AKL on CX to include Oceania and there are plenty of budget flights in Europe to make it so we really just need to get to a central point there, like FRA.
It would be tough for me to get to 600k miles to hit biz class. I do enjoy the difference, but extra miles might be better acquired on my SPG Amex for some nice hotels on this trip...