Just wanted to share my experience with this program (first time using it!). I've been trying to desperately figure out ways to not sit in economy for a LAX-DPS (via HKG) flight, but award availability on Cathay Pacific has been scarce for biz/first and I guess as an AA member, we are not allowed to book Prem Economy using miles.
After some strategy, I resigned myself to buying an economy ticket and then HOPING i could upgrade into PE using AsiaMiles.
After much googling though, I stumbled on this thread and boy am I happy i did!! I gave the Platinum Travel team a call and they were able to price out a Prem Econ. option for me that was ~10% cheaper than anything I found on AA.com / Cathay Pacific’s websites. Not only that, they were able to secure Premium Economy (LAX to HKG) and then Business (HKG to DPS). Even the fares I found via the airline sites were Premium Economy (LAX to HKG) and then regular Economy (HKG to DPS).
i was also able to use some points against the fare so total cost ended up being ~27% lower.
all in all, very satisfied with this benefit!