I waited for ticketing before posting here again. That took a few days but has now happened.

You're right that it isn't the kind of bargain one would book purely or primarily for miles or status points. I don't think anyone claimed that it was. It can, however, be a bargain for trips that have another primary purpose (e.g. a vacation). It frequently enables access to far more inventory than sales typically do.

One example:

A spring trip to two European countries. Other commitments mean only specific dates are possible. The outbound in particular can only be on one of two evening flights -- one leaving a college town just as spring break begins, the other out of a larger airport a few hours later. Fares stubbornly above $1,400 in coach and $5,000 in business. Award availability hasn't appeared and isn't likely to.

This deal allowed us to book business class returns for $2,300 including UK departure tax. We got the precise flights we needed to make the trip work best, including the regional jet (which booked into Y).

Use your AA PNR to enter QF's MMB system (http://www.qantas.com.au/) and read off your BA PNR at the top of the page (white on black background). Then go to BA's MMB at ba.com.