Originally Posted by moshennik

Here are my questions:
1) For NRT -> LAX Business of (or?) First class award travel shows up as Waitlist. What does it mean?

It is paying up front for award space.

If award space does not open, your the miles will be refunded.
If award space opens, then you have an award ticket.

2) It gives me NRT->LAX prices in JPY, i assume my card will just use current exchange rate to convert?

Yes

3) Is there anything else I am missing here?

Not sure you tell me