Not sure if this qualifies as 'discussion' (for which I can't find a dedicated thread) or permissible here.
Best status run booking I have achieved is with points club award bookings at $2.05/SC based on my own formula (currently 0.375c/pt, i.e. what I can obtain them for - for example, 80,000 SCs for CC sign up bonus with $300 annual fee) + taxes/surcharges, during the recent DSC period.
It's not perfect due to lack of flight availability and lack of flexibility, and it's not a small number of flights..
ZQN-AKL, in Jetstar economy - positioning flight only, nil earned. Couldn't be avoided for me unfortunately.
All subsequent flights in U class (business)
AKL-BNE-SYD-MEL day 1
MEL-SYD-BNE-SYD-MEL-ADL day 2
All booked as a multicity reward, i.e. same PNR
By my calculations this will earn 316 SCs - 2x(32+18+18+18+18+18+18+18), costing $353.82 in surcharges/taxes and 78000 points.
The trip out was $2.78/SC, but this was more cautious to reduce chance of losing luggage.
I fully expect my check-in luggage to get delayed, but this is a return leg and I'll not pack anything important in it. HLO would obviously be a better option when possible.
Similar could be achieved by stacking most flights in the multicity tool, noting restrictions with only two trips per day, although you can often book multiple legs per trip at the choose specific flight stage. Additionally you can't have more than 7 individual trips or the tool crashes.