AA simply keeps track of q-points and q-miles. When the first counter hits 100,000 (be it the points counter or the mileage counter), you become an Executive Platinum memeber. Not too confusing.
As I mentioned before, throw too many deep discount fares in the mix and you will reach 100k miles before points even if lots of your travel was F or P.
Q-points does allow for EXP for flying 200 segments (min. 500 q-points per segment), and at least one FT (St Thomas/St Croix?) does that each year commuting on American Eagle 45 miles each way. VIPOW upgrade certs for flying almost exclusively AE.