"for most paid lounge memberships" that may be true. But QF didn't sell it as that. Did you see this link?
Flying with Us - Qantas Club - for at least 7-8 years they were sold as being access to 250 lounges(all the archive.org pages between from 2002-2009 lead with "250" lounges as the very first thing you read).
Now get this - here's where QF made the big change to their headline!
Look at the difference between these two snapshots of Qantas Club homepage:
2002 - Feb 15, 2009:
Fly - The Qantas Club
"Feel welcome at over 250 lounges worldwide"
Feb 28, 2009:
Fly - The Qantas Club
"Feel welcome at over 130 lounges worldwide"
(give them a sec to load & refresh)
So from one week to the other in Feb 2009, 120 lounges were dropped from their headline. That's 48% less lounges, man.
Please explain.
Hey man, since you read the T&C's you would have seen the very first one that says:
"1.1 These Terms and Conditions, as amended from time to time, and any rules published by The Qantas Club from time to time ('Club Rules') govern all aspects of The Qantas Club."
Then there is also
"10.1 Qantas Club Members are entitled to access The Qantas Club lounge in the departure port when the Member's next onward flight on that day is with Qantas, a QantasLink or Jetstar service."
And these 3
"10.8 Entry to Partner Airline and associated lounges is subject to the individual airline's entry conditions and space availability and in any event, a restriction of a maximum of one guest per Member applies, unless otherwise specified.
10.9 Due to operational reasons, member access to Qantas Clubs and associated lounges may from time to time, be restricted.
10.10 Access policies for the use of Partner Airline lounges may vary by partner. Current information can be obtained from The Qantas Club Service Centre."
So getting to the topic at hand it seems as if BA, for what ever reason has toughened it's access requirements, so the last 3 and rule 1.1 all cover this. Now it is for Qantas to see if they can and if it is worth negotiating with BA for the access to be given back.
All from
Fly - The Qantas Club - Lounge Locations - UK/Europe
Interestingly not sure if anyone else picked it up, but on the two pages you linked to if you click on Europe says the loumges in London that can be used are:
London - British Airways, Terraces (Terminal 4), and The Galleries Club lounge and The Galleries First lounge (Terminal 5).
First time I have ever seen any mention of galleries. These must have dropped off when Qantas moved to T3.