Originally Posted by
Amberite
Great post, thanks so much! It's a bit of a bummer regarding EQM, although I figure that if you earn enough points, you can
fly first class anyways without having to worry about elite qualification. Also, I see that airlines such as Continental have guaranteed perks when reaching 1 million+ miles, and from what I can tell this has nothing to do with EQM, which is great.
Thanks again everyone!

As you noted above, if you use your miles to get biz or first class awards you would be getting most of the same benefits that an elite flyer has without having to invest all the money and time flying to earn it! You do not earn miles on award tickets.
The elite status benefits people who actually fly tons of paid fares so they get all the perks of being "first class" even if they only buy economy seats. If you do not fly a lot then elite benefits would be nice to have but not vital to getting the most out of FF programs.
Yea it would be cool to say you are lifetime platinum but you have to realize what value does it bring to your flying habits. It might be more cost effective to get those perks by booking biz or first class awards.