Oops !!! Someday I'll learn how to count.
What I meant to say regarding one ticket is that you would take 105,000 AMEX MR points which convert to 52,500 Starwood points. Then convert those to 105,000 Qantas points. Starwood will throw in 10,000 Starwood points which convert to 20,000 Qantas points and voila !!! You've got 125,000 Qantas points.
Sorry for the earlier mistake.