I do this, but I maintain OW Emerald on both AA and QF.
If I had to choose, I'd pick AA for the upgrades as opposed to QF for the lounge access when on a Oneworld carrier. You'll get lounge access anyway on an international itinerary.
AA miles are worth a lot more than Qantas points.
Last edited by Spiff; Oct 20, 2008 at 5:32 pm