I was just thinking that when I came across your post.
As for me I have always thought QF was superior to VA however having said this I can't remember the last time I flew with QF. I have just assumed that QF has a bigger international network with more options for lounge access.
This thread really does show how YMMV and how subjective the whole "what is better" thing actually is.
Funnily enough, I don't actually think either airline is better in terms of product. To me - as a Y BIS - both QF and VA are the buses of the sky and while elite status makes it a little nicer, it doesn't turn a bus into a limo.
The difference for me was even at no status or mid-status when the s**t hit the fan on a few bookings QF told me to get stuffed, whereas VA couldn't have been more helpful. I started moving my business to VA as a result (and started flying more) and although I've had a few minor foibles with VA over the years I've found that when real stuff does go down they do always try and rectify it as best they can.
Can't comment on QF anymore as I haven't flown enough with them to see if they've improved. I get a little disappointed on some of the enhancements, but then I also remember that the QFF has been through enormous negative changes too and the QFF of a few years ago that can be romanticised isn't the one I'd be moving to if I jumped ship today.