It's not AA that's pulling those "shenanigans". It's the Bilateral Treaty between the UK and US. BA members can't earn miles on AA flights across the Atlantic and vice versa. Otherwise, the use of and earning power of AA points is unaffected. Open Skies will slowly erode that barrier anyway. Case in point: more US carriers gaining access to LHR. I don't know when, however, the reciprical earning/redemption on TA flights on those two carriers will be permitted. I just know it was one of the long term barriers that would eventually come down.
As for the QF points, I earned some on a trip to Australia already. The rest were laundered in via the Starwood 1:2 ratio they used to have. With the 5K bonuses (10K with that ratio), they added up quickly. I specifically did it to have a nice cushion to book a OW trip down the road.