Perth and environs are very pretty. One thing to be mindful of is that SYD-PER is a USA transcon type distance and fares are priced accordingly, although for non-locals QF has a not terribly cheap airpass deal. Virgin now flies it, but no points of any kind accrue or awards are possible to redeem.

Award tickets on the Pacific leg are traditionally tough to confirm, especially up front. And Ansett Mark II is still teetering pretty much precariously, and is still in the hands of administrators and I do not believe they will initially accept Star (UA etc) miles for award tickets. Later on this may change of course.

However with TWO oz dollars to one $US Australia is an incredibly inexpensive destination once you are here, with drink food, hotels cabs etc usually being HALF what you'd pay in the USA.

Another possible option to consider is somewhere South American - RIO being a pretty obvious choice as far as great cheapness when there, and wonderful things to do/see. A lot of carriers fly to GIG, and there are often good specials, and heaps of point redemption options as well.