I am with both Aust FF programs.
Waiting to see what Rex brings out.
For some situations/circumstances, its still better to keep QFF.
Unless, unlikely as it is, that VFF and Rex join in a FF alliance.
Yes, its better to keep with one FF program, so you get to SG with one, but VFF's tier reach for SG is not that high.
VAd J fares are quite low on some routes, so its just easier to go that way, compared to QF.
But then on the other hand, for some routes, like SYD - CBR, VA have given that route to Link, so no J, ie, no lounge access, at least with QF, on some days, they do still have the 737 with a J service.
On ADL - PER, VA have given all that service to VARA on the A320, without a J service either, so I would go QF if I wanted a J going ADL - PER.
VA only has one overseas call centre, in the Philippines, where they speak good English, only with that accent, but with QF, you could get any one of the 4 call centres, and on here, its said that those can be "bad".
Partnership wise, QF have the upper hand, with one world, but with VA/VFF, its a bespoke, and if you are not flying a code share, your claim for points might not be successful, ie, they might decline the claim.
((I once put in my SQ KF FF # into a VAd booking, wasn't a code share, after I had flown the route, the points didn't appear, so I put in a FF points claim, it got declined!
I didn't want to make a fuss.
Compared to QFF, if you put in your Avoid FF # into a QFd booking, I am sure the points would be in your Avios account within days!)).
Both airlines do cancel flights occasionally, so for now, to sum up, they are really both on an equal(ish) footing.