The problem for those who are not SE is actually redeeming the points. I used to have lots of points and as a basic member tried to book a holiday for 2 to Australia in J. Over a 4 month window there was not a single pair of seats available and I was looking a year in advance. Since I wasn't SE I couldn't do IKK or any other tricks.

If you obtain AE points by credit card spend for the "once in a lifetime" trip, it is quickly disillusioning when they are impossible to redeem. In the end I bought J tickets on NZ and a J ticket gives me everything status does in terms of sitting up front, lounges, baggage etc.