I consider myself to have been fortunate to reach QF LTG, and even more fortunate to reach BA GFL.
For some reason this thread fascinates me. As I read it QF probably ought to provide some benefits to keep the ever growing band of LTG's "interested" in continuing their flying on QF metal. LTP is a far off an unattainable goal for the majority, me included.
As my business travel will come to an end next year I am interested in this. If I was in the position of falling back on LTG I'd probably still opt for QF domestically (using Avios is handy here) but internationally my plan is to fly J or F as much as I can anyway so QF, with it's inferior premium product, is not likely to be my choice unless price (insert laugh here) drives me there.
BA GFL will keep me flying OW* for the F lounge benefits (and the other benefits of traveling within an extensive partner network.).....but as a self funded traveler (I believe it is against AFF law not to state this if traveling on one's own "dime") err err well nothing will really change for me!! I will weigh up costs against benefits as I currently do and select my carrier on the outcome.
QF's problems are an inferior, yet expensive, premium cabin product, a poor frequent flyer program, and Fred Perry menus.
I'm certainly not going to go through the whole FF Stockhom Syndrome experience and look for the flimsiest excuse to continue to fly with QF.
*Providing OW flights meet the cost v benefit test.
Me too. I wished I'd had the benefit of your advice sooner in my life, as if it had reached me earlier, I could have got to BA GFL. Although that would have likely come at a price, and I might have missed out on fun QF P1 things like a turn in the simulator.
+1 and decided on becoming self-funded travellers, which we're 11 months into, and moving countries, that class of flying, schedule and the value proposition the combination of those factors offered would determine future flight buying. So far this year we've travelled on JL, CX, QF, AA, BA, NZ and WS. Next year will be UA, AA, BA and WS (so far). Since moving to YVR, QF is a long way down on the list of options, offering as it does limited and largely unsatisfactory options from YVR. That said, a lot of our flying this year has been and next year will be North American flying, hence AA, UA and WS featuring.
I did think about how and whether we could retain any status on QF above our respective LTGs (me at 63,000 SCs and +1 at 20,000 SCs). The upshot is we could have done it (by doing a couple of "status runs" when back in Australia for a wedding next year), but it would have meant trying to fly exclusively OW from YVR for everything, which would have become rather a bore as limiting us to AA for North American sectors and having to transit through the US for Canadian cross country journeys. Now as a self-funded traveller, I'm looking for as few connections as possible, a mid to lunchtime departure from YVR, as few red-eyes as possible, etc etc. QF simply cannot deliver any of that to someone living in YVR.
Lounge access is important to us, but that has largely been taken care of by class of flying (we only travel J or F), my Amex Platinum charge card and the Amex Centurion lounge and Priority Pass benefits, which we've found to be very useful flying in North America, and longer term our QF LTG benefits. It would have been nice to still access F lounges forever, but the price of getting there was too much - another 13,000 SCs with QF would taken 4 or so years at my working life levels of flying, and in self-funded flying life, I think I'd die before I got there.
I will watch any forthcoming announcements from QF with great interest, and in particular, whether there is any grandfathering. I don't have much faith that QF will do anything that anyone here would regard as particularly attractive (LTP is a great example), but it will be interesting to watch.
It could be a selling point for QF too, i can see the marketing pitch now....."Reach LTG and bugger off to another program so they can pay for your lounge access...we'll make the lounges lovely though!" 
