Thanks for the sage advice - but will I end up with two pools of points that I can't use anyway ? Is Virgin's Velocity program better at getting FF seats ?
If you can't use your QF points now, what's the point of earning any more? But you'd be hard pressed not to be able to use your points in any way; its just that at the moment you have the same idea as probably millions of other QFF members
(taking the family on school holidays) . Taking routings that aren't direct is one of the things many AFFers now take in their stride. For paid tickets there's a saying "Why fly direct when you can connect?" - meaning you get more points and SCs on a two leg flight compared to a direct one. Doesn't work for everyone though.
As a Plat did you know you can call the Plat line and request for J award seats to be released on the flight you want to take? Its not guaranteed (few things are these days) but I've had them open a J Award seat up for me on a number of occasions and only been denied once - when the request was only a week out from the flight. Obviously more than one seat is tougher - but not unknown.
I haven't tried VA internationally, so can't compare BUT remember that you can transfer your VA points into SQ Krisflyer miles and then claim SQ award seats. Again, not easy but that's a business product (or better!) worth flying on.
Here's an idea. As you appear to travel to the US frequently, why not join AA's program Aadvantage? There are people here on AFF that are 'double platinum' this way. In the US you can use your QF plat status to get lounge access travelling domestically and also earn AA miles to use economically on their program. You'll have to watch the AA flight qualification criteria, but that shouldn't be hard. I would have done that but since I fly to and around Canada a lot I went for Air Canada's program - its not great overall but the upgrade system is peachy and at times of flight disruptions, they look after you.
I try not to accumulate any more than 250,000 QFF points at any one time, fearing a devaluation. I use them on domestic upgrades which wile not the best value, isn't bad when the points are 'surplus'.