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Qantas and American are somewhat unique in having paid lounge membership programmes, which trammels their flyers with rules that do not allow lounge access (even based on status) during domestic and mid-haul travel.

BAEC has already devalued their FFP; though I'm no prophet, I do predict AA will do so as well - perhaps to be announced toward the end of 2015, but more likely in 2016 (based on some public statements by USdbaAA management statements).

OTOH, AA certainly offers more ways to earn piles of miles if one lives in the U.S., but Avios are often the preferred and more economical award travel for U.S.A. and shorter or mid haul flights, whereas redemptions for awards on BA of any kind incur punitive YQ fees.

You could renew Silver if your calculations are spot on, but you could credit the 3,451 miles (5,176 EQ Points) plus other AA, U.S., BA and other JBV flights within three months to AA and complete a Platinum challenge, having Sapphire status as soon as you accrue 10,000 Points (not miles - flights accrue 100% miles, but from 0.5 to 1.5 Points, depending on fare class paid).

If you're going to be USA based for the foreseeable future, this might be your "ticket".