Originally Posted by psoque

NH PRO: Earlier availablity...365 days vs 330 days....some popular itineraries may be snapped up between day -365 and day -330. (but United partner awards do not appear until later, even for ANA).
NH CON: Has to be round trip, Won't hold seats before transferring points, (slightly*) more points to redeem, higher fees

VS PRO: (slightly) less points required, much lower fees
VS CON: The journey has to start from an airport with ANA metal (unless you are willing to add another flight on separate ticket)