A question to those who are Gold & Platinum, what is the real difference between the two (That you actually use)?
As you're Velocity Gold I'll start with that, although the differences are relatively minor.
Platinum members receive an extra luggage allowance which I have used.
I haven't yet used the 4 free upgrades but will do so later in the year. Note they can only be used on Flexi (not Saver) bookings.
I have used the complimentary partner membership with Hilton Honours - the Diamond privileges are worthwhile.
I enjoy the advance access to seats in the first row of economy.
There are more significant differences between Gold and Platinum QF status.
Access to domestic business lounges and the international First lounges in Sydney and Melbourne.
On arrival access to domestic lounges.
Access to more seats in advance than Gold members but some seats are still reserved for Platinum One members until T-80.
For me the most significant difference is in the benefits available when flying on OneWorld airlines.
Platinum opens up the premium checkin and security lanes with OneWorld which in many European destinations is almost like an airport within an airport.
Access to OneWorld First lounges can make a difference if you're transiting a OW airline hub on the way to Europe.
For example, the CX first lounges in HKG and the MH first lounge in KUL set a much higher standard than the corresponding business lounges.
Of course the same is true if you are transiting DXB - the Emirates First lounge is a whole floor, below the Business lounge floor.
Apart from generally higher standards and exclusivity, a main benefit of first lounges is a la carte dining. Much nicer than the buffet which is usually provided in business lounges.
Different lounges have different additional benefits - such as the sleeperette rooms in MH's lounge in KUL, or the cabana shower suites offered by CX in HKG.
I know similar benefits apply for Platinum Velocity members flying on Virgin's partner airlines but for me they seem a little ad hoc, and people have reported some problems with recognition of benefits.
I haven't experienced any of those problems using QF Platinum status with OneWorld airlines. And to be honest the other OneWorld airlines I have flown with (FI, IB, MH, CX) and even EK have made me feel more valued as a Platinum Frequent Flyer than QF does.