As well, country of residence matters. If you live in OZ, the Qantas is the better program for internal flying (i.e. holidays). If you live in NA, then it is a toss-up (AA compared to *A carriers.)

I'm not qualified to compare hard product but that might make a difference too. My dh just paid over $1K more to fly AC because he knew their hard product was better for his needs than the cheaper alternatives, plus he saved 5 hours travel time. Me, I would burn the time and live with lesser seats in order to save that kind of money!