Hi Thanks for the feedback.
My calc for the Virgin flights (I just booked some 7.35am flights BNE-SYD) for 14,500 points each (well actually I paid 7800 plus $39.30 in taxes). (actual cost of flight in this point range was $160-220).
The later morning flights range between 22,200 and 90,000 (about $270-539)
So 43500 points gets me about $480 to $660.
45K VFF points gets me only just over 3 flight including taxes
or if I use minimal points I get the 5.77 BNE-SYD flights and pay $39.30 per flight in taxes.
How did you get 5.77 fully paid flights including taxes for 45K VFF (good deal if you have!)
EDIT
I just checked on the Westpac online travel site.
for same flights
Virgin was 65K altitude points (of which 15K taxes)
Strangely
Jetstar was 69K altitude points of which under 1000 altitude points in tax.
so 65K Altitude points approx 22K VVF suggesting it was taking up the price points of the more expensive flights and not the 3 cheapest flights.