I stopped transfering points out of my AMEX card except when needed at the start of the year for the very reason that I couldn't decide what to do with them. I looked into SQ but since most of my flying is domestic and perhaps next year 4 trans tasman flights and between 1 to 3 DONE4 or Business class circle pacifics this didn't make a great deal of sense. I looked into Virgin Blue but this also didn't make sense with international business class rewards more expensive than QF and no J class rewards for domestic or trans tasman and I would have to put up with the mad house that is Sydney T2. However the DJ lounge is far better in my opinion to the QF Dom J lounge in Sydney. I also don't trust that DJ won't give me a middle seat which I am not a fan of.

I looked at Virgin Atlantic but doing a Sydney to London to East Coast US in business was far too expensive so that rules that out as well.

So I have decided to stick with QF for the moment but to park my points with AMEX. With AMEX you can (if you have enough points) buy any seat as a reward seat on any airline. Terrible value from a points perspective but does solve the availability issue. If QF does have availability you can transfer the points in and hope the seat(s) are still there a day later, likewise with SQ.