Dave,
Thanks for your insight. For me status would be important, as I will be flying a lot of caoch throughout Australia and use of lounge and upgrade opportunities are better when having highest status. ALso, since I will be flying mostly QF and BA I think the premium you get on flights (mileage wise) are better as opposed to being AA Advantage member. With regard to the longer travel when taking BA? I think I can survive and extra three hours in FIRST and the extra mileage is good too.
Trip will be with stopovers in BKK (depending on political situation) so I will ensure maximum SC / TP can be earned.
Kenneth