What is the Point of CodeShares?

I am just wondering what, if any, benefit I would gain from booking a flight through Virgin as a Code share, rather than booking it direct with the airline operating the flight.

For example:
If I wanted to fly from London to Singapore. Being a confirmed miles whore and TP junky I would of course fly on Singapore Airlines.
But would I see any additional benefits from booking the flight through Virgin as VS7317, or booking it with SQ as SQ317?

I know that for miles and TP earning on partner airlines (eg. SQ) the flights must use their metal rather than a Codeshare operated by a 3rd airline (eg. Asiana)
But about a VS codeshare on a partner airline's metal?

[Scrooge]

For the most part there is no benefit from booking through VS rather than direct with the partner airline, just my personal experience, I am sure someone will be along shortly to state another case.

With some code shares, you need to be ticketed as a VS passenger to be able to earn miles and trip points. I came across this when flying with Continental last year. Got round this by flying their 11.30 Gatwick-Newark which is not a VS code share (their 10.30 and 12.30's are if I remember correctly) and then flying back Toronto-Gatwick via Cleveland. This way I was able to travel on trans-atlantic flights which were not code shares with VS and earn miles and trip points.

As for your example PVGSLF, I do not know the position with VS/SQ code shares.

Jonathan