An open question and one which I don't think I found a satisfactory answer is whether it makes sense to achieve top tier lifetime status with one alliance makes sense or if it is more sensible to spread lifetime status out over the alliances. Sure you can spend the next ten years flying OW to get lifetime OWE on BA, so now you'll have what two different OneWorld lifetime statuses? One with QF and one with BA. What does that buy you? On the other hand if you pursued getting lifetime status on Star Alliance (i.e. through Asiana's 500,000 mile lifetime status program) or SkyTeam (i.e. Delta's 2 million MQM for lifetime Gold) I feel you would be better off. Ideally, the holy grail would be getting recognition regardless of which airline you fly and having lifetime status on all three alliances will go a long way to getting you there.
The other thing I suppose that's important is to keep in mind which lifetime status you get. For instance lifetime status on BA or QF is more valuable than that of AA, since with BA/QF status you can enter an AA lounge whenever you want on a domestic flight (you can't do that with AA status). A similar thing can be found with United and Delta too.
-RooFlyer88