Thanks for the tip KF.

You are correct in saying that LHs redemption levels are are lot higher than SQ and UA but with the 200% earn for business class this makes it a lot easier to earn / burn. They are also not as high as Thai.

Using the same calculations as before.
MEL - Asia - 90,000 Miles (compared to 85K for SQ and 75K for UA)

But with the extra earn rates, this works out to be 6 return flights to get 1 free ticket. (Compared to the 8 on United and 7.3 on SQ)

MEL - NZ - 45,000 Miles 3.0 return trips - same as Singapore.

So what I see, its got slightly better earn/burn rates. And has the added bonus of Children's redemptions are 75%, Points don't expire if I can get and keep status within 3 years. And status lasts for two years. + earn 25% bonus on UA flights. And One International Upgrade (two e-vouchers).

Disadvantage - no ability to earn points via CC in Australia.

One question - for Senator - does the 130K need to be earned over any 1 year in the two year period or over two years?

(Also KF - I was being generous to Air NZ with the .7 ratio. I didn't want to be completely trashy to them - this fare is only available during specials.)

This is why I had asked the question. Even though I had done all this work, I just wanted to make sure I wasn't missing something. Which it turns out that I had. I didn't look at BMI as I don't have a Europe address. I didn't look at LH as the 130K to get star gold turned me off - but with 200% earn ability, this isn't going to be that hard to get.