Agree it's good value: but largely only to/from hong kong. As stated, any connections at all, and it is much, much better value to use AA miles (and no YQ to pay on those). First class rewards are also significantly cheaper on AA, since they are usually ~2x economy redemption rate vs 3x on BA, and even with higher within Asia rates, and even if no connection, AA turns out to be cheaper.

Nonetheless, we've redeemed once as a family for PEK-HKG, and will likely to so again soon.

tb