Yeah, we've done that. We've got enough for one business class ticket on American (Qantas) and 2 coach tickets on United. I was trying to figure out if there is some way to combine our miles in a semi-generic program to get us into business class (ie: convert miles to HHonors points), or if it made sense to buy tickets and try to upgrade to business class. I've already looked into HHonors points, and they only offer coach award redemptions.
I know at the least we can travel coach together on United, but we were really hoping to be able to fly business class. Our last long haul flight from Tokyo to LAX was a real beast in coach!!!