bbinchi:
I do not think that CX can take you to Cape Town (CPT): I think they only fly in to Durban (on the East Coast), and Johannesburg (North: about 1,000 miles from CPT.).
I am thinking of going to JNB some time this year, and was considering the same kind of scenario: the long flight on CX, but at a better rate than the shorter flights via LHR on AA/BA. I was looking at the business class rates, and CX needs fewer miles for that as well. They have a great coach deal at the moment: 55,000 miles, but it is a looong trip in coach.
If you havn't been to HKG, it may be worthwhile, if you have the time, to spend a couple of days there: it is fascinating, and there is some good shopping (suits, eye-glasses, etc...)
When are you planning on going? CPT is great in the Southern hemisphere summer (winter is when it rains there: June; July). Feb is the best month for CPT: many people from JNB go to CPT during Dec/Jan for annual vacations, so it is very busy then, and most places are very crowded.
(South Africa main vacation period is from around 12/5 - 1/15.)
Sorry I can not answer your direct question: I have only flown AA in first, and they were great. CX business is good.