Originally Posted by SquareDanceGuy

Definitely don't let the hold expire! Sometimes you can extend the hold (i.e. hold it again) if you're not quite ready to book. Call and ask.
Definitely leave the LHR airport and visit London. The passport people will be quite pleased that you chose to visit and explore their country during a long layover.
One-world business-class lounges because of your status ; one-world First Class lounges because of your F-class departing ticket.It all depends on what you like. Whatever you're in to, London has it. Go to Tripadvisor and look up "Things do to in London". It will show more than 1000 things to do. Scan just the top ten percent and find something that interests you. By staying within the top ten percent (as rated by your fellow travelers) you're almost guaranteed to make a great choice.use hotelscombined.com to scope one out.I don't quite understand why your LAX-LIT flight requires routing through JFK. Surely there's a better way to get from LAX to LIT. While we're on the topic, I wonder if other outbound routes are available (i.e. through HKG, PVG, NRT, HNL, PPT). Sometimes (often) you have to specifically guide the AAgent to search through the various options ... or search it yourself on Qantas website (requires registration).