As a Plat, if it wasn't for the KL/AF merger, I would have jumped over to KL in 2004 -- Platinum points and companion upgrades wouldn't be worth the advantages of upgrading internationally (not to mention getting EQM on MH, which I flew for 26,000 miles in 2004 and got neither EQM nor elite bonus miles for).
But AF's FFP doesn't seem so good, so I chickened out and stayed with NW. I'll probably stay with NW in 2005, but primarily because I suspect my globe-girdling days are over for a while and I'll be needing to do domestic MR's in 2005 just to make 75,000 EQM.
Steve