Sorry, If I was a bit unclear, I was talking purely about redeeming 2.4 Million Amex MR into solely AA or Krisflyer for J "RTW" awards and comparing flown miles:
AA.com:
220k AA miles = 35-50k RTW in Business Class
190k AA miles = 25-35k RTW in Business Class
2,425,000 Amex MR = 800,250 SPG = 1,000,250 AA = Lifetime Gold
5 x 220k AA = 1.1 Million AA (250k miles flown in Business)
5 x 190k AA = 950k AA (175k miles flown in Business)
Singaporeair.com:
240,000 KrisFlyer miles = 35k RTW in Business Class
2.4 Million Amex MR = 2.4 Million KrisFlyer miles = 10 x 240,000 KrisFlyer miles (350k miles flown in Business)
As I said before, flying on a
AA Oneworld RTW award is less restrictive than flying on a *ONE* flight, as you can fly in any direction, and don't have to cross both oceans, etc. You can even stopover in your home town (to break the trip in 2) if you don't start your RTW award there. And you can leave Australia multiple times as long as you don't stopover in the same city twice.
So 350k flying on Star Alliance, vs ~230k on Oneworld, or 65% of the Star Alliance flights. Of course once the credit card miles are used up, with a higher lifetime status you will earn more miles on paid flights in Oneworld. Eventually when you reach AA Lifetime Plat, two trips on a longhaul route should give you enough miles for the same longhaul route, e.g. SYD-LAX-JFK-LAX-SYD is ~20k flying, and will earn you 40k if on AA codeshare, if you're Plat. Do that twice, and you'll get 80k miles, which is enough for Australia - USA on AA. Although, I suppose that if you never plan to fly on a paid flight again, then the point is moot.
Of course this is an overly simplistic calculation, that doesn't take into account where you want to fly, how much hard cash you spend (on taxes, etc) and how much time you want to take off, availability on various airlines, whether you actually fly on paid flights, etc.
NB, There are some good deals on hotel rooms using HHonors points or SPG points.
e.g. 6 nights in
Hilton Bora-Bora for
175k HHonors points
Fly there using 25k SQ miles for economy or 35k for business (on Air NZ). Alternatively 40k AA miles for economy, or 60k AA for business (on Air Tahiti).
Note that a lot of hotels have recently changed categories in SPG, and so are cheaper (in points).
NB, If the Amex -> SPG 1000:600 mistake rate was still in effect:
2,400,000 Amex MR = 1,440,000 SPG = 1,800,000 AA = Lifetime Gold (and close to Plat)
8 x 220k AA = 1.76 Million AA (400k miles flown in Business)
9 x 190k AA = 1.71 Million AA (315k miles flown in Business)
So with SPG mistake rate, you'd get roughly the same amount of flight mileage, lifetime status and less taxes to boot.