Tedhl...
The old Marco Polo Club had policy of zero-ing down your balance when you reached the next level. But I had checked with CX The Club Service centre on this and they assured me that CX has done away with that requirement following the revamped status. Meaning that your balances will not be reset to zero when you qualify for say, Gold from Silver. You can accumulate as many miles within your membership period which is set as an expiry date on your card. Which means I can aim for Diamond if I set my heart to it, by November 1999.
The Club may have its disadvantages of being one of the most difficult to attain stauts on, but the priveleges of the Gold (1world equivalent-Sapphire) include guaranteed seat in economy class if booked within 72 hours on any fare is advantages.
For Diamond members (1world equivalent-Emerald), CX members can get guaranteed seat in Business Class (or economy) within 24 hours is an added bonus. Most OneWorld Emerald equivalent cannot guarantee a seat in Business Class but rather one in economy. That is quite a damper if you're holding a Business Class ticket.