The food on VA is a total joke in Y. The amount of times I've written to Richard after a coast to coast flight complaining about the meagre portion of tasteless slop I've had to suffer through on a 5 hour flight... Never changes and never get a decent response...
But - and I presume I'm similar to many - I don't do enough flying to reach gold with QF most years, and VA WP is quite attainable with a mix of work (economy) travel and personal travel plus family pooling. The 4 upgrades are great on coast to coast, and things like priority boarding & baggage normally work very well. I would much prefer a oneworld style international network with lounge access, but based on the amount of flying I do its VA or nothing...
One of the downsides of this forum and becoming more points wise (read cc churning) is that vacation flights and long weekends are now often J awards which while fantastic for flying, has had a decent impact on SC earn and future status for work travel! A Euro trip for me and +1 a few years back netted us over 400 SCs flying return on SQ in Y...