There have been conflicting reports re a PG needing 600 or 700 SC's to [re]qualify - would indicate that 700 is indeed required.

However, there is an issue with the Qantas website that states only the requalification level.

i.e. IF a PG log on and has earn 400 SC's, the web site will state 200 are required to retain that status - not the actual 300.

It confused me last year as the web site contradicts the QFF T&C's - SWMBO was PG, but did earn the 700+ SC's in any case, so the point was moot.