No its zone based, so anywhere in Oz to anywhere in the North America for those miles... Only problems is if you don't fly transpac direct and go via Asia then they start splitting it up into two awards South Pacific-Asia and Asia-North America....
Your only problem now will be getting those 125,000 miles in any quick way as even the best offers (tending to be near the start or the finish of the year) are 60,000 + 30,000 bonus (a 50% buy promo) and that is your annual limit of 60,000 miles purchased reached... You might be able to wait until the next one of those 50% bonus offers comes along and you buy one set of miles for one flight and get someone else to buy a set of miles and book your return, although often the intervening offers are only something like 40,000 + 15,000 which won't even get you your one way flight...
There is also an offer for swapping some points via hotels isn't there...