I think you better check your program...
If you are a Continental OnePass member, you can earn miles on Qantas, but they do not qualify for CO Elite Status....
"Travel Area for Mileage Accrual: Qantas-operated flights from North American gateway cities to Australia, New Zealand and Nadi, Fiji, and on connecting flights within or between Australia and New Zealand (Consolidator fares, unpublished or non-revenue tickets excluded. Only residents of North America can earn OnePass miles.)
Earn: Actual miles or a minimum of 500 miles. Earn a 25% mileage bonus in Business Class or a 50% mileage bonus in First Class.
Web Site:
www.qantasusa.com
Phone Number: 1-800-227-4500"
However, if you are a Qantas Frequent Flyer member, there is no listing of Continental Airlines from their website. The only American airlines they have listed are American Airlines (AA) and US Airways (US). Therefore you will not get any miles flying Continental.
You will definitely get miles from AA because they are a oneworld member. For US Airways, I would check your qantas terms and conditions to make sure where you can get credit.
On AA, your Ruby status will give you benfits, but on US it may not.
Revelvant Qantas links:
http://www.qantas.com.au/fflyer/dyn/partners/airline
http://www.qantas.com.au/fflyer/dyn/program/terms
http://www.qantas.com.au/fflyer/dyn/program/index
Hope this helps...
- HobokenFlyer