The floor value from my calculations should be between 0.8 and 0.9 cents per QFF point.
If you search for a flight, and divide the cash fare by the number of points shown when you click on "View In Points" will give you some idea.
And all the flights will fall into that approximate range. The web front end no longer considers the PUZX classes on the "regular" search.
Previously there were effectively three web booking front ends, searching different fare buckets and pricing in different ways (the following is general only, my opinion as an outsider, and may contain inaccuracies, but should be close enough to illustrate).
1. Regular $ fares. Searches over all buckets except classic awards (PUZX). Priced in $ (to start with). Then at booking, allowed point to be used as part payment (points plus pay), subject to minimum points. Never checked to see if there was a maximum points (allowing zero cash). Hence this did both $ and "award" bookings.
2. Classic awards. Searched only PUZX. Priced in fixed points (more or less, some funky calcs required for multi-sector to allow the "OTW" award pricing) Required $ co-pay, but did award bookings. Could pay the +++ by points as well, at extra cost.
3. Any Seat Awards. Searched all fare buckets. Priced in points. Pricing approach varied depending on underlying "cost" which could have been $ or "classic" points. Allows points only, but allows $ co-pay, and does award bookings. Minimum points required is variable, depending on what the classic point cost would be.
What a mess - no wonder they wanted to rationalise. Not only are there awards everywhere, but all fare buckets appear in more than one of the front ends, but get priced differently. There are multiple approaches (start with $ and then points plus pay) or start with Any Seat Award and then add cash, for mixing $ and points, with different rules for minimum and maximum, and the possibility for the two approaches to be giving different answers.
Now we have only 2 front ends (look like 1, but there are really two), and they each look at a mutually exclusive set of fare buckets.
A. Tick the "Show Classic Awards only" option, and you are using the old option 3. Only uses PUZX, and does classic awards.
B. Don't tick the box. You are only searching all the fares buckets except PUZX. Allows points plus pay, subject to a minimum points amount. Looks very like the old option 1. All that has been done is to add a conversion of the $ to points (make the pay zero), on the search screen.
Now have only 1 way online to access each fare bucket. All points options are available on each option, and $ can be substituted for points for anything except the classic "base" fare.
Opportunity for inconsistency removed - along with the ability to use PUZX for an ASA. I suspect QF view that as collateral damage, an quite possibly serendipitous.