If travelling on Cathay which is better value - Air Asia Miles or Qantas FF points?

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Gotogate

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Now that Cathay has relaxed it's expiring points policy I'm wondering if I'm better off to sign up for their FF program rather than accumulate the points to my QFF account.

Since I retired my Virgin status has dropped from platinum to silver and Qantas to red and my travel is all vacation so more intermittent. I'm now less likely to go to any great lengths to chase the best points offer and more likely to chase the best deals, best routes or best options available at the time. I have found that Cathay has had a bit more of my business over the last 12 months but use my QFF account to accumulate the points. What's the most beneficial option?
 
When I flew CX as a connecting flight on the same booking as QF, I found that the fare class was not eligible for earn on QF so that's something to consider...
 
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N class on Cathay ( discount economy) doesn’t earn on QFF, and only 50% on Asia Miles. Otherwise QF SC/ points earn is reduced if CX flight replicates a QF route.
 
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