Flew to SYD and returned from MEL in PE on the A380, then the LAX to JFK on the 747. I've travelled Premium Economy on BA and Virgin and the Qantas seats (and food) were a whole world apart. Comfortable, big recline and Qantas worked out that when people recline you cant see a seatback TV so it's in the armrest. Well thought through and the 2x3x2 seating on the A380 was spacious.
I think PE is a great deal on QF as Business is usually double the PE price, and I couldn't stretch to that on this trip!