My interpretation of the CX Rules (
http://home.so-net.com.hk/~pns/CXRule/ ) is that travel on PH is only permitted when it is a codeshare with a OneWorld airline (which means QF I guess). But In that case I don't see why they allow a booking under the PH flight number.
And the Star file at
http://www.hardlink.com/~markdu/OWFi...lExplorer.html seems to allow travel on any PH flight.
So there is certainly room for interpretation - as always it depends entirely on the person issuing the ticket.
The Star file is explicit that a stopover is any break of more than 24 hours, so it is unlikely that you will get a "next available flight" exemption.