I appreciate everyone's feedback on my posting. I actually called Aeroplan and they told me that within a two week window that I was considering traveling (in 2010), AC has only released one business class seat for reward travel to Sydney. I'm trying to book 2 seats. The agent was very friendly. When I asked whether I should "complain" to Aeroplan or to Air Canada, she directed my to AC.

I'm not a frequent traveller...so having built up about 350K in points over two or three years only to find that what I want to purchase is not even available...the word "scam" comes to mind.

Again...thanks for all the great information. At least I've got a few more tools at my disposal to try and figure this out.