Agree with RichardMEL here. And some considerations to think about when thinking of value is to actually break down the benefits QF Gold gives you over QF Silver (what you would drop down to) and QF Club:
- Access to International Qantas lounges when travelling OneWorld and OneWorld lounges when travelling internationally (remember you'd have access to QF Clubs and lounges by virtue of holding the QF Club). In other words how often do you find yourself travelling OneWorld globally?
- Priority Boarding on QF Flights
- Additional baggage on QF/OneWorld flights
- 75% bonus points on AA/QF flights versus 50% for Silver
- Preferred seat selection on QF and OneWorld partners
- The ability to book classic awards 353 days out versus 297
I cannot tell you if all of this is worth 80,000 points. You can certainly get a lot of travel in with 80,000 QF points and if you aren't finding yourself checking a lot of baggage or worried about what seat you've got (or resigned
yourself to T-80) then maybe it's not worth pursuing QF Gold and simply to stay at Silver.
Remember too, that you want to evaluate who you are flying with and make your frequent flyer elite loyalty decisions accordingly. For instance, before I moved to Australia, United was my frequent flyer program of choice for status. I flew them regularly (heck I'm 15% of the way to Lifetime Gold with them), would regularly check-in 3 bags weighing 32 kg each (due to my constant moving for work), enjoyed having that extra leg room exit row seat on the 777s, and of course the various Star Alliance lounges I could access along the way. Well in Australia, having United status is put simply useless since United and for that matter Star Alliance isn't a major player in the market and United now requires you spend roughly $8000 USD with them just to maintain United status (I know it's more complicated than that). So I decided to take Qantas up on a status match offer to Gold, qualified for that and never looked back. For me, having Qantas Gold status is a necessity and one I can easily achieve through my flying for work and pleasure. It is a status that I regularly take advantage of and one I look forward to using more now that I'll be crossing into Platinum status. Maybe Virgin is the status to have on account of there being a status match now to Gold and the bar is considerably lower for earning and retaining status with them. At the same time, Virgin does have some interesting partners offering reciprocal benefits like United, Singapore and Qatar to name but a few.
-RooFlyer88