Appreciate all the replies.
Long time Lurker, since I moved to USA 10 years ago, haven't traveled much back to Aus, so doing the QF 4 segments will be difficult. No plans to return to Aus, at this stage. Have kept QFF Account active, by redeeming on AA, but there's minimal points there now.
I may be able to do a UK run, for the 4 BA flights, later this year, but that'll be difficult to make sure I do, so AY and IB seem like the best contenders.
All I need is OWS, OWE is a stretch goal, but likely not that useful while in USA.
Leaning towards AY at this point, But if status is easier with IB, then let me know and I'll sign up for IB instead.