Here's the article and bellow is are some quotes I pulled from it.
"Qantas is the brand new addition this week. [talking about Citibank partner addition] At first brush it would seem like that would be great for travel to Australia. Except that they have one of the worst award charts in the world at least for premium cabin long haul travel. And they release very little award space.
Anything you can book on Qantas you can do at a better value using points from a different airline’s program.
There’s a trick to it that you should know but it’s possible to book Qantas premium cabin seats at a real discount.
"Qantas is a useful program for folks who regularly fly the airline itself, to earn eltie status with Qantas and be able to use their miles for upgrades. If you aren’t earning elite status with Qantas it’s almost always better to accrue miles in another program. And if you want Qantas flights it’s almost always better to redeem them from another program’s miles."
In addition, I read a comment from someone suggesting alternative airlines I wanted to get your opinion on this Matt.
"it is often better to hold points in Cathay's Asia Miles or Singapore Airlines' Krisflyer, as these both offer better value, point for point, when redeeming for award flights. You need to use far more Qantas points to get the same flight. Since Cathay is a One World partner, you can use Asia Miles to book the same flight that you would with Qantas. You just redeem through Cathay."
"One of the best options in Oz is to have an Amex card that gives you Membership Rewards Points. These points are very flexible and can be converted into Asia Miles, Krisflyer, and a bunch of others. This gives you the option of choosing which airline to redeem your miles with depending on where you'll be travelling."