Can someone elaborate? I'm looking at December flights as well and I'm ready to book as they are probably as low as they will go (or at least as low as I'm comfortable paying for).

The flight is priced the same for both AS and AA. It is a non-refundable fare. The flight is on AS metal. I am indifferent on where my points accumulate between the programs, but more loyalty is with AA than AS. No elite status.

If it is more advantageous of me to book directly on AS for the flight rather than AA solely to get the AA miles, can someone explain the difference in change fees and why it is better to go with AS direct?

When reading online, it appears I can book on AS.com and make changes or cancellations free of charge if done so 60 days or more prior to travel. Paid amount will go to to my AS wallet for a future flight, not back to my payment source (credit card). AA does not offer such generosity. Is this the big difference?

That being said, I can book now, and if the fare reduces prior to 60 days out, I can cancel, have funds sent to my AS wallet, and then use those funds to immediately re-book the same flight at the lower fee...all with no additional out of pocket expense? Seems like a no brainer - correct?

If I have the funds in my AS wallet, can I use the funds to book travel on a partner flight, say AA?

I'm looking SNA to SJD (Cabo) for new years. AS and Southwest are the only providers servicing the route non-stop. SW flight and far calendar for Dec 2016 not available yet, so I'm looking to secure something, and have some flexibility in case fare drops or SW fare is cheaper, which also includes free checked bags.