Since Europe is so "small", 15 stopovers and 28 sectors seem to possibly go a long way...if you start in CAI and get an economy ticket (YRWSTAR2) for approx. 1,700 Euro, you could, e.g., fly cai-sin-icn-sfo-fra-(european travel)-cai and you would have about 12,500 miles to use for extensive european travel with flexible tickets ($ 75 for every "routing change"). As far as I could see from the rules kempis posted, if you start in CAI, there are no limitations on the number of stopovers/transfers in Europe other than the obvious 15 stopovers/28 sectors rule.
Aren't date changes free (as opposed to routing changes)? So if you kind of "have the order in which you want to check out the European cities" in mind, you can change the dates later as you need them, without even having to pay extra?
To me, this means for 1,700 Euro, as a European, you could visit one location in Asia, one in North America and, if you wanted to, within one year, you could visit all the cities/countries in Europe you always wanted to go to, but haven't yet...
If your first concern is getting a good travel bargain (as opposed to earning maximum miles), an economy ticket should easily be sufficient with this kind of itinerary, since Y and C are basically equivalent on intra-European flights...
What do you think about this? Sounds like the cheapest and most flexible "Europe Airpass for Europeans" to me...
(obviously, one would have to spend some miles or add the cost of the ticket to get to CAI in the first place)
If you think the idea is not too outlandish, it would be cool if you could post some ideas for intra-European itineraries which would offer a good value as part of the trip (e.g., less traveled routes to interesting cities which would be expensive if purchased stand-alone...).