So I'll give everyone some firsthand experience since I signed up with them last year...In April...When I signed up, I was assured it would be up and running by June...then It was September, then October, then a soft launch in December, and still have heard nothing about a launch. However, I have spent numerous hours on the phone with them discussing what the program does and doesn't include.
The program is for discounted flights, when talking with them, they said as long as it wasn't Y or B fares, everything else is fair game.
You will earn redeeming miles and qualifying miles on all flights. The one thing they haven't said, and I don't know either, is how it will work with the airlines that are using a cost basis component for miles earned.
You can pay additional to book within 6 hours, but still no Y or B fares. You could also pay additional to have up to 8 legs instead of 4 legs. Please note I said legs, not trips as they say on their site.
Lets say I wanted to go to from Las Vegas to Omaha on American for a weekend. I would go LAS-DFW-OMA. That would be 2 of my 4 legs. The return goes OMA-DFW-LAS. That's 2 more legs. So until I arrive in Omaha, that "trip" consisting of 4 legs is all I can have booked. Once I arrive in Omaha, I can book 2 more legs 7 days or more out. Rinse and Repeat.
Please let me know if you have any more questions and I'll be happy to chime in with anything I know from them.
I will throw out there, that when I signed up with them almost a year ago, it was a $100 sign-up fee. I got fed up of waiting, and requested my money back, which they honored their money back guarantee for the sign-up fee.