I have followed this new madcap advanture from the weird mind of ozstamps. And actually considered it for early next year. However, it is not all that practical for AC Aeroplan because one requires 150 segments to reach SE, compared with 100 to reach 1K on United. The goal is to amass the required segments as cheaply as possible to qualify for the top tier in a STAR Alliance partner. And while Elite requires 60 segments, the rewards are not as lucrative to put all the effort that this adventure would require.

Also, we expect AC to change the 2001 accumulation requirements as they introduce a fourth tier, and raise the existing Elite and SE ones. I am not sure you can requalify mixing segments and miles, and since the TE segments only get you 500 Aeroplan Q-miles, you'd need to fly 200 segments to reach SE under the current 100K requirement.

One might consider such a run to build up Q-miles after accumulating reaching Elite next year. But to get 50K Q-miles in this way, you'd still have to fly 100 segments. It'd be pretty brutle.