I did a quick comparison for First Class (rtn) redemptions, between the three major programs, to try and figure out which one was the best value.
If anyone cares to check my calculations below, just let me know if you can see any errors, so it can be corrected.
[TABLE="width: 583"]
[TR]
[TD]Avianca
[/TD]
[TD="align: right"]$/m
[/TD]
[TD]USA
[/TD]
[TD]ASIA STH
[/TD]
[TD]ASIA NTH
[/TD]
[TD]AFRICA
[/TD]
[TD]EU
[/TD]
[TD]NZ (J)
[/TD]
[/TR]
[TR]
[TD]miles
[/TD]
[TD][/TD]
[TD="align: right"]160000
[/TD]
[TD="align: right"]120000
[/TD]
[TD="align: right"]130000
[/TD]
[TD="align: right"]200000
[/TD]
[TD="align: right"]200000
[/TD]
[TD="align: right"]50000
[/TD]
[/TR]
[TR]
[TD][/TD]
[TD]
[TD] $ 2,400.00
[/TD]
[TD] $ 1,800.00
[/TD]
[TD] $ 1,950.00
[/TD]
[TD] $ 3,000.00
[/TD]
[TD] $ 3,000.00
[/TD]
[TD] $ 750.00
[/TD]
[/TR]
[TR]
[TD]*Mixed
[/TD]
[TD="align: right"]0.01365
[/TD]
[TD] $ 2,184.00
[/TD]
[TD] $ 1,638.00
[/TD]
[TD] $ 1,774.50
[/TD]
[TD] $ 2,730.00
[/TD]
[TD] $ 2,730.00
[/TD]
[TD] $ 682.50
[/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]USAirways
[/TD]
[TD="align: right"]$/m
[/TD]
[TD]USA
[/TD]
[TD]ASIA STH
[/TD]
[TD]ASIA NTH
[/TD]
[TD]AFRICA
[/TD]
[TD]EU
[/TD]
[TD]NZ (J)
[/TD]
[/TR]
[TR]
[TD]miles
[/TD]
[TD][/TD]
[TD="align: right"]140000
[/TD]
[TD="align: right"]120000
[/TD]
[TD="align: right"]120000
[/TD]
[TD="align: right"]160000
[/TD]
[TD="align: right"]150000
[/TD]
[TD="align: right"]30000
[/TD]
[/TR]
[TR]
[TD][/TD]
[TD]
[TD] $ 2,634.80
[/TD]
[TD] $ 2,258.40
[/TD]
[TD] $ 2,258.40
[/TD]
[TD] $ 3,011.20
[/TD]
[TD] $ 2,823.00
[/TD]
[TD] $ 564.60
[/TD]
[/TR]
[TR]
[TD]*Share
[/TD]
[TD="align: right"]0.01135
[/TD]
[TD] $ 1,589.00
[/TD]
[TD] $ 1,362.00
[/TD]
[TD] $ 1,362.00
[/TD]
[TD] $ 1,816.00
[/TD]
[TD] $ 1,702.50
[/TD]
[TD] $ 340.50
[/TD]
[/TR]
[TR]
[TD]*Mixed
[/TD]
[TD][/TD]
[TD] $ 2,261.30
[/TD]
[TD] $ 1,884.90
[/TD]
[TD] $ 1,884.90
[/TD]
[TD] $ 2,637.70
[/TD]
[TD] $ 2,449.50
[/TD]
[TD] $ 340.50
[/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]AA
[/TD]
[TD="align: right"]$/m
[/TD]
[TD]USA
[/TD]
[TD]ASIA STH
[/TD]
[TD]ASIA NTH
[/TD]
[TD]AFRICA
[/TD]
[TD]EU
[/TD]
[TD]NZ (J)
[/TD]
[/TR]
[TR]
[TD="colspan: 2"]miles
[/TD]
[TD="align: right"]145000
[/TD]
[TD="align: right"]90000
[/TD]
[TD="align: right"]120000
[/TD]
[TD="align: right"]150000
[/TD]
[TD="align: right"]160000
[/TD]
[TD="align: right"]35000
[/TD]
[/TR]
[TR]
[TD][/TD]
[TD]
[TD] $ 2,900.00
[/TD]
[TD] $ 1,800.00
[/TD]
[TD] $ 2,400.00
[/TD]
[TD] $ 3,000.00
[/TD]
[TD] $ 3,200.00
[/TD]
[TD] $ 700.00
[/TD]
[/TR]
[/TABLE]
For Avianca/Lifemiles, the *mixed rate refers to redeeming with 40% miles and 60% cash (for miles) at the time of redemption.
For US Airways, the *mixed rate is for people with 50,000 miles in their account, valued at the *share miles promo rate, with the remain miles at the current promo rate.
Otherwise all purchase rates for miles, are at current promotional levels. (The ticket's taxes, fees and charges are not included in the final dollar value.)
All fares are in USD, for a single passenger, First Class return from Australia to the destination (excluding ticketing taxes, fees & charges), except NZ, which is Business Class return - the best value for a destination in purple.
If anyone cares to check my calculations below, just let me know if you can see any errors, so it can be corrected.

[TABLE="width: 583"]
[TR]
[TD]Avianca
[/TD]
[TD="align: right"]$/m
[/TD]
[TD]USA
[/TD]
[TD]ASIA STH
[/TD]
[TD]ASIA NTH
[/TD]
[TD]AFRICA
[/TD]
[TD]EU
[/TD]
[TD]NZ (J)
[/TD]
[/TR]
[TR]
[TD]miles
[/TD]
[TD][/TD]
[TD="align: right"]160000
[/TD]
[TD="align: right"]120000
[/TD]
[TD="align: right"]130000
[/TD]
[TD="align: right"]200000
[/TD]
[TD="align: right"]200000
[/TD]
[TD="align: right"]50000
[/TD]
[/TR]
[TR]
[TD][/TD]
[TD]
0.015
[/TD][TD] $ 2,400.00
[/TD]
[TD] $ 1,800.00
[/TD]
[TD] $ 1,950.00
[/TD]
[TD] $ 3,000.00
[/TD]
[TD] $ 3,000.00
[/TD]
[TD] $ 750.00
[/TD]
[/TR]
[TR]
[TD]*Mixed
[/TD]
[TD="align: right"]0.01365
[/TD]
[TD] $ 2,184.00
[/TD]
[TD] $ 1,638.00
[/TD]
[TD] $ 1,774.50
[/TD]
[TD] $ 2,730.00
[/TD]
[TD] $ 2,730.00
[/TD]
[TD] $ 682.50
[/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]USAirways
[/TD]
[TD="align: right"]$/m
[/TD]
[TD]USA
[/TD]
[TD]ASIA STH
[/TD]
[TD]ASIA NTH
[/TD]
[TD]AFRICA
[/TD]
[TD]EU
[/TD]
[TD]NZ (J)
[/TD]
[/TR]
[TR]
[TD]miles
[/TD]
[TD][/TD]
[TD="align: right"]140000
[/TD]
[TD="align: right"]120000
[/TD]
[TD="align: right"]120000
[/TD]
[TD="align: right"]160000
[/TD]
[TD="align: right"]150000
[/TD]
[TD="align: right"]30000
[/TD]
[/TR]
[TR]
[TD][/TD]
[TD]
0.01882
[/TD][TD] $ 2,634.80
[/TD]
[TD] $ 2,258.40
[/TD]
[TD] $ 2,258.40
[/TD]
[TD] $ 3,011.20
[/TD]
[TD] $ 2,823.00
[/TD]
[TD] $ 564.60
[/TD]
[/TR]
[TR]
[TD]*Share
[/TD]
[TD="align: right"]0.01135
[/TD]
[TD] $ 1,589.00
[/TD]
[TD] $ 1,362.00
[/TD]
[TD] $ 1,362.00
[/TD]
[TD] $ 1,816.00
[/TD]
[TD] $ 1,702.50
[/TD]
[TD] $ 340.50
[/TD]
[/TR]
[TR]
[TD]*Mixed
[/TD]
[TD][/TD]
[TD] $ 2,261.30
[/TD]
[TD] $ 1,884.90
[/TD]
[TD] $ 1,884.90
[/TD]
[TD] $ 2,637.70
[/TD]
[TD] $ 2,449.50
[/TD]
[TD] $ 340.50
[/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]AA
[/TD]
[TD="align: right"]$/m
[/TD]
[TD]USA
[/TD]
[TD]ASIA STH
[/TD]
[TD]ASIA NTH
[/TD]
[TD]AFRICA
[/TD]
[TD]EU
[/TD]
[TD]NZ (J)
[/TD]
[/TR]
[TR]
[TD="colspan: 2"]miles
[/TD]
[TD="align: right"]145000
[/TD]
[TD="align: right"]90000
[/TD]
[TD="align: right"]120000
[/TD]
[TD="align: right"]150000
[/TD]
[TD="align: right"]160000
[/TD]
[TD="align: right"]35000
[/TD]
[/TR]
[TR]
[TD][/TD]
[TD]
0.02
[/TD][TD] $ 2,900.00
[/TD]
[TD] $ 1,800.00
[/TD]
[TD] $ 2,400.00
[/TD]
[TD] $ 3,000.00
[/TD]
[TD] $ 3,200.00
[/TD]
[TD] $ 700.00
[/TD]
[/TR]
[/TABLE]
For Avianca/Lifemiles, the *mixed rate refers to redeeming with 40% miles and 60% cash (for miles) at the time of redemption.
For US Airways, the *mixed rate is for people with 50,000 miles in their account, valued at the *share miles promo rate, with the remain miles at the current promo rate.
Otherwise all purchase rates for miles, are at current promotional levels. (The ticket's taxes, fees and charges are not included in the final dollar value.)
All fares are in USD, for a single passenger, First Class return from Australia to the destination (excluding ticketing taxes, fees & charges), except NZ, which is Business Class return - the best value for a destination in purple.