dilbert
I find it strange that you were only allowed to hold the UA reservation for 2 days. In my past experience, they've allowed a 30 day hold as standard policy, and will even extend it a little if you ask. Did they give you a reason for the short hold time?
As for miles, I think the Star Alliance should come up with "discounted" awards when you redeem for an award that requires inter-line ticketing. Right now, you're basically getting two separate awards when you go say, ORD-FRA on UA and FRA-BUD on LH. It seems, by what you're saying, that oneworld has done this to a certain extent (as far as I know, AA does not fly to India).