I believe the redemption value is much better than QFF points purely on the fact that one is able to purchase AA miles cheaply with the bonus AA miles, well a big bonus.
I am extremely optimistic but one would assume if 40,000 AA miles cost ~USD1100 then 60,000 AA miles would cost ~USD1650.
I can go one-way SYD-BKK in economy for 25,000 AA miles or 35,000 in business class.
Economy does not sound like good value as I can purchase a BKK-SIN in CX business class for ~AUD600 and SIN-MEL-SYD//BNE-SYD-SIN for ~AUD800. So all up I have spent ~AUD1,400 and earn 200 SCs and ~20,000 QFF points which is an absolute bargain.
Assuming AA miles are purchased at ~USD0.02/mile then an economy return award for 50,000 AA miles would cost ~USD1,000 + minimal taxes and surharges which is really poor value.
But if one redeems a return business class award for 70,000 AA miles it would cost ~USD1,400 + minimal taxes and works out to a be a very good deal.
Of course we all have different needs so best for the individual to calculate the value for themselves. And for some the need to earn SCs at some point in time for status also needs to come into the equation. e.g An AA award in business class is great but also sacrificing 200 SCs which are needed to maintain Platinum status and will cost more somewhere else.