Even though Qantas FF program waives registration fee to non-Australia/New Zealand residents (must use overseas address), it is not worth while join if you live outside these areas as the recent May-25 program change, most international award tickets redemption cost have increased dramatically as they try to lure pax into ticketing domestic award tickets.

[QF has no other competition in Aus as it is the only full service carrier domestically with affliating in a global alliance programme...hopefully this will change when SQ can fly trans-pacific routes to the US, fingers crossed]
PS: By the way, what booking class is used to ticket RTW economy, business and first travel?