There is one more consideration from my perspective when considering the AA vs QF programs. The QF booking window opens about one month earlier than AA (ie 355 days vs 330 days) and during that time QF members grab all of the rare premium award seats to/from international destinations (particularly LAX and DFW). (There are many more OW options when flying to Europe).

As a member of both QF and AA with a ton of points in AA and not many in QF - I often watch (via Expert Flyer alerts) award seats which I would like to book disappear before I can book them with AA points. Using AA (or QF) you can of course route via Asia to the USA using JL or CX but with AA this is considered 2 awards making the redemption rate much closer to QF's. Nevertheless I abandoned QF many years ago due to their poor earn/burn rates.