LHR->SYD - What's our best way of getting there?

My wife and I are planning to go to Sydney in Jan 2011. We've got somewhere around 100k miles between us, don't mind buying some more if necessary. We want to fly Premium Economy.

Any thoughts on our cheapest way of getting there?

I had the following idea, but doubt it would work:
Buy 1 economy ticket, upgrade it to PE for 40k miles, and then spend 60k miles on a companion ticket - guessing this won't work, because the upgrade ticket probably isn't in a qualifying class.

Thanks

[Neil]

No you won't be able to do that. To buy a companion seat with miles you need to buy with money either an W or S PE fare and then use your miles for a companion flight, which is double the usual amount of miles to SYD.

First thing I suggest you do is see what reward seats are available and work from there. SYD is not easy to get reward seats on so no point planning something only to find no seats available.

Neil

I wouldn't hold too much hope out for the companion idea being a 'offer', 9 times out of 10, you'll find very limited savings against the cheapest tickets available...
(I'm sure they employ someone in a darkened room, designing these pricing structures to make 'companion tickets' next to worthless....)

SYD last yr did have numerous options open throughout the yr to SYD, you need to have some flex in your travel dates if you want to do the miles usage route...

I'm in the same boat, and after a lot of questions and a lot of research, you'll be VERY lucky to be able to upgrade both ways using reward seats.

They are being made available, but they are being sold pretty much straight away.