rmccamy,
- Do you prefer economy or business? There are cheaper RTWs that do not work alliance wide but work for limited networks sometimes outside core alliances (UA/CX, NW/KLM/SQ, etc.) that have different constraints. There are under $3K biz fares on these networks. I have done numerous $3K or so biz RTWs and they are fine. On some special flts you may need to wait until the last minute to get confirmations. Limited availability (as opposed to full J which gets you a seat when any seat is available) but rarely has it been a real constraint especially when planning in advance. With all the status and value of miles, I recommend biz class because of better availability (the fare difference is partly compensated for by the bonus miles and in case of OW, the First class bonus and q-points on US travel).
As far as alliance fares are concerned (OW, Star, etc.) the rates are the same usually based on country of start or country of issue (and rarely country of residence). You cannot get cheaper than published fares unless you get someone to discount you (many agents outside North America do this a lot but will not publicize it - you need to get info word of mouth or through ads in specialized or local press). There are risks involved - if you use a credit card and cross-check the official ticket you may be OK (the cash discounts are usually issued from the comissions the agents get which are high in developing countries and Europe).
Beginners of RTW may find the following helpful:
http://www.guidebookwriters.com/regi.../airfares.html
http://hasbrouck.org/excerpts/index.html#RTW
I am not related in any to the links above. The key takeaways from the above are that to get a truly discounted fare you may need to buy locally in many areas or use an expert. You can use AMEX to buy locally but specialized agents like the ones hasbrouck mentions above may be better.
- RTW tickets earn miles, status and bonuses. In economy they are published discounted fares (M on AA). In Biz they are discounted business but get you the 25% class of travel bonus, as well as 100% PLAT bonus. On Star, the treatment is similar for UA and you get even better with LH (100% class of travel bonus instead of 25%). You do not give any right to earn any bonuses.
- As drbala mentioned above you can upgrade on AA flts using miles or VIPOWs (when you reach Plat EXEC status or million miles). On UA you can upgrade using SWUs and I think miles as well (check on UA/Star boards). If you are flying biz RTW you can upgrade to F. It is worth it on most OW/Star carriers.
- OW is better to maximize miles and status. Star is slightly expensive but is good to get the highest status on LH. I personally recommend OW but your choice may vary. The strategies are different for different alliances. Check the OW and Star boards and also search Google or other search engines for info. drbala has stated that he recently switched to OW from Star. I went to Star AFTER getting and locking in OW benefits. Star has much better network but I find OW pricing and benefits better if OW meets your travel needs.