A question... are you getting this trip on a single award (125K miles) from LAX - SYD?

I ask just because on my reading the rules would require it to be two awards (110K+70K=180K) because Qantas offers LAX-SYD direct.

If you are getting it for 125K then I would repeat my suggestion of spending the extra 20K to take it up to an F award. That would be 20K very well spent. In fact, I would still go for it even for an extra 45K in the two award case would (or perhaps just on the LAX-HKG for 25K)