I believe the Aer Lingus short-haul Business Award tickets book as an "Economy Advantage" fare, which includes lounge access, security fast-track and priority boarding. But there is no real information on this anywhere. Yes, it's not a true business class product and I have updated the article to mention this.
The Expert Flyer availability is not phantom - I called yesterday to confirm those Business Award seats shown on Expert Flyer can be booked using Qantas points. They can, and I was given a quote for Business class.
One day I might book one of these flights to see what you actually get on an Aer Lingus "Business" Award... I'm curious myself.
Interesting, but I have flown on an Advantage fare with EI, and it really isn't something that could be described as even vaguely resembling business class, so I think you are being generous by saying it's "not a true business class product"!
On board there is no difference whatsoever - you don't even get free tea or coffee, never mind booze or anything to eat - everyone has to pay for anything other than water.
Also worth bearing in mind that neither fare class nor status has any impact on what seats are available on these flights. For people who book on the EI website, every seat is wide open - the only difference is that people who book the cheapest fare category have to pay between EUR8 and EUR17 to select a seat, but then those fares only cost EUR29.99 e/w for any of the flights in your example. People on the middle fare category ("Plus" - costing just EUR68 in this example) are allowed to choose any seat on the plane for free, and Plus fares also include a checked bag and priority boarding (which as you can imagine is pretty meaningless, given that pretty much anyone who has a checked bag gets it!).
Importantly, I'm not actually sure if you would be eligible for advance seat selection at all if you book an award flight via QF. I have previously booked an EI operated flight via BA and been unable to select seats - I even phoned EI and said I was quite happy to pay a seat selection fee but they told me it was impossible as seat selection is only available if you book on their website. Needless to say I ended up getting row 23 or something once I checked in at the airport!
The only other benefits with Advantage fares are fast track security in Dublin only (not other airports), and lounge access, which again is not available everywhere they fly to/from. People on the lower fare categories can add on lounge access for EUR30 anyway.
All things considered, I would say anyone who used QF points to book a so called business award on a short haul EI flight would be
extremely disappointed. In fact, given how cheap EI short haul fares usually are these days, I'm struggling to understand why anyone would want to use points at all.
Transatlantic is of course a different matter, if you can find availability there, and there is a huge advantage of flying T/A from Dublin, as they have US preclearance, which means you arrive in the US as a domestic passenger and so avoid the often lengthy queues at immigration there.